Which of the following is true of business markets?
A) Buyers are usually not skilled at comparing competitive product offerings.
B) Buyers have limited purchasing power.
C) Property rights, language, culture, and local laws are the most important concerns.
D) Products sold in such markets are usually highly standardized.
E) Business buyers purchase goods to make or resell a product to others at a profit.

Question

Quizplus · Accepted Answer

Business buyers purchase goods and services for the purpose of making or reselling a product to others at a profit. This is the main characteristic of business markets. The other options are incorrect. Buyers in business markets are often skilled at comparing competitive offerings, have significant purchasing power, and deal with a variety of important concerns such as property rights, language, culture, and local laws. Additionally, products sold in business markets can be highly customized, depending on the specific needs of the buyer.

Which of the Following Is True of Business Markets