Business Market

The business market includes firms that buy services and goods to produce products and services to sell to others.  It also includes and wholesaling and retailing firms that buy goods to resell them at a profit. Because of aspects of business-to-business marketing apply to institutional markets and the government markets, we group these together.  Business marketer needs to know the following:  Who are major participants?  In what decisions do they exercise influence?  What is their relative degree of influence?  What evaluation criteria do each decision participant utilized?  The business marketer also required to understand the major environmental, interpersonal, and specific influences on the buying procedure.

What is a Business Market?

The business market comprises all of the organizations that buy services and goods for use in production of other and services or products that are rented, sold or supplied to others. It also includes wholesaling and retailing firms that acquire goods for purpose of reselling or renting them to others at profit. In business buying procedure business buyers find out which services and products their organizations need to purchase, and then discover, evaluate, and select among alternative suppliers and brands. The companies that sell to other business organizations have to do their best to understand business markets and business buyer behaviour.