Author Question: What are the four major types of business markets, and what are the characteristics of ... (Read 20 times)

acc299 · **on:** Jun 29, 2018

What are the four major types of business markets, and what are the characteristics of each?

Question 2

According to Nielsen Media Research, product placements in video games
a. are more annoying to gamers than commercials are to television viewers.
b. were popular for a while but are now used less frequently.
c. are accepted by younger players but disliked by adult players.
d. are seen by gamers as elements that add to the quality of play.

sarah_brady415 · **Reply #1 on:** Jun 29, 2018

Answer to Question 1

The four categories of business markets are producer, reseller, government, and institutional markets. Individuals and business organizations that purchase products for the purpose of making a profit by using them to produce other products or using them in their operations are classified as producer markets. Reseller markets consist of intermediaries, such as wholesalers and retailers, which buy finished goods and resell them for a profit. Aside from making minor alterations, resellers do not change the physical characteristics of the products they handle. Federal, state, county, and local governments make up government markets. These markets spend billions of dollars annually for a wide range of goods and services, ranging from office supplies and health-care services to vehicles, heavy equipment, and weapons, to support their internal operations and provide citizens with such products as highways, education, energy, and national defense. Organizations with charitable, educational, community, or other nonbusiness goals constitute institutional markets. Members of institutional markets include churches, some hospitals, fraternities and sororities, charitable organizations, and private colleges.

Answer to Question 2

D