Chapter 6: B2B Answer questions 1, 2, and 3 on page 185 in your textbook under the heading Discussing & Applying the Concepts. 1. Compare and contrast business and consumer markets. Similarities: Both involve people who are making a purchase decision to satisfy needs. Differences: Market structure and demand: businesses deal with far fewer but far larger buyers than consumers markets. Some business markets have inelastic demand. Business markets also have more fluctuation demand. Nature of buying unit: Business purchases usually involve more decision participants and more professional purchasing effort. Types of decisions and the decision process: Business buyers usually face more complex buying decisions than consumers. The buying process is also more formalized than consumer buying. The buyer and seller are often more dependent on each other in a business setting. 2. Discuss several ways in which a straight rebuy differs from a new-task situation. In a
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