Demand in industrial markets is different from that in consumer markets. All of the following are factors that differentiate the industrial market from the consumer market EXCEPT:
1. stages in economic development affect demand for industrial products.
2. demand is more volatile in the industrial market.
3. stages in industrial development affect demand for industrial products.
4. the level of technology of products and services makes their sale more appropriate in some countries than others.
5. industrial products are always more expensive than consumer products

Question

10-12-2022
Business

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Demand in industrial markets is different from that in consumer markets. All of the following are factors that differentiate the industrial market from the consumer market EXCEPT:
1. stages in economic development affect demand for industrial products.
2. demand is more volatile in the industrial market.
3. stages in industrial development affect demand for industrial products.
4. the level of technology of products and services makes their sale more appropriate in some countries than others.
5. industrial products are always more expensive than consumer products

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sapanpandit sapanpandit · Answer 1 · 2022-12-16T06:21:42+01:00

The level of technology of products and services makes their sale more appropriate in some countries than others is not a factor that differentiate the industrial market from the consumer market.

In an industrial market, businesses trade goods or services with other businesses rather than with a consumer base. This sector, also referred to as the business-to-business market, includes three different subsets: companies that sell goods, companies that sell raw materials, and companies that provide services.

Agriculture; mining; manufacturing; construction and transportation; communication and public utilities; banking, finance, and insurance; and services make up the majority of the industries that make up the industrial market (business market).

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