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 buy goods to make or resell a product to others at a profit.

Question

Quizplus · Accepted Answer

Business buyers purchase goods with the intention of using them to make or resell a product to others at a profit. This distinguishes them from consumers who buy goods for their own use. The other options are incorrect because business buyers typically have greater purchasing power than individual consumers, they are skilled at comparing competitive offerings, and concerns such as property rights and local laws are important in both consumer and business markets. Additionally, not all products sold in business markets are highly standardized.

Which of the Following Is True of Business Markets