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The Different Types of Buyers and Consumers

1 What are the different types of buyers and consumers? How does the type of buyer or consumer impact marketing strategy? As part of your response, consider the characteristics of buyers and the factors that influence their purchasing decision. How can an organization ensure that their market strategy is appropriate for their target market?

2 As you stated, the consumer market consists of individuals and households who purchase goods and services for personal consumption. In the business market, good and services are purchased for the production of other products and services or for resale. Both the consumer market and the business market are similar in that they involve customers who make purchases to meet their needs.

in what ways are the consumer market and business market different from each other?

3 Micro-marketing is a strategy which attempts to Taylor products towards specific geographic, demographic, or psychographic segments of the consumer market.
While this technique can be effective for some smaller businesses, do you believe larger businesses would have the same success?

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Buyers include people who buy for resale such as retailers. Buyers can also be people who buy resources, materials, and equipment for businesses. Some buyers work for distributors and buy to send and sell to other companies or consumers. Buyers are usually employees of businesses.

Consumers are people, families, small groups that buy for their own personal use. These products and services are items such as clothing, food, housing, necessities, and luxuries. Personal consumption is based on income and not on ...

Solution Summary

This solution provides a detailed discussion of the given marketing questions.