A market that includes companies that purchase products and services such as equipment and machinery, supplies, lubricants, consulting services, cleaning services, advertising, marketing research, raw materials, semi-finished products, and so on is referred to as a consumer market.

Question

Quizplus · Accepted Answer

The market described in the statement is referred to as a business-to-business (B2B) market, not a consumer market. A consumer market refers to a market in which goods and services are sold directly to individual consumers for personal use.

A Market That Includes Companies That Purchase Products and Services