A manufacturer of consumer food products for the Chinese market in North America buys several thousand tonnes of camellia nuts annually.It converts those nuts into cooking oil that is popular among the Chinese population and then sells it to Chinese supermarkets.The pulp from which the oil is extracted is sold to beef cattle farmers who use it to fatten their cattle.These transactions occur in the _____ market.

Question

Quizplus · Accepted Answer

Marketing organizations operating in an industrial market buy a good or service, reprocess that good or service, and then sell the product to another buyer.In this case, the company buys camellia nuts, reprocesses them, and then resells a finished product to Chinese supermarkets.The pulp is sold to beef cattle farmers for feed.

A Manufacturer of Consumer Food Products for the Chinese Market