Jorge, after years working with the consumer market, has just been transferred into a new job dealing with buyers in the B2B market. What key difference will Jorge likely notice between consumer markets and markets? Multiple Choice Businesses focus on developing wants and needs in consumer markets, while firms work to satisfy the existing needs of the B2B market. Business-to-business markets make greater use of marketing intermediaries such as wholesalers and retailers than do consumer markets. Buyers in the business-to-business markets tend to be more rational than buyers in consumer markets. Relationship marketing tends to be much more important in consumer markets than in the business-to-business markets.

Jorge, after years working with the consumer market, has just been transferred into a new job dealing with buyers in the B2B market. What key difference will Jorge likely notice between consumer markets and markets? Multiple Choice Businesses focus on developing wants and needs in consumer markets, while firms work to satisfy the existing needs of the B2B market. Business-to-business markets make greater use of marketing intermediaries such as wholesalers and retailers than do consumer markets. Buyers in the business-to-business markets tend to be more rational than buyers in consumer markets. Relationship marketing tends to be much more important in consumer markets than in the business-to-business markets.

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

See similar textbooks

Related questions

Q: Your local fast-food chain with two dozen stores uses the company's internal corporate marketing…

A: Marginal cost is the extra expense brought about in the creation of another unit of a decent or…

Q: A company estimates that it can sell 2,000 units each month of its product if it prices each unit at…

A: The demand function is the mathematical relationship between the quantity of a commodity demanded…

Q: art 2. Matching: Match the Key terms in Column "A" with the definitions in Column "B" by writing the…

A: Since you have posted multi-parts question, we are answering the first three parts for you. If you…

Q: Refer to the table below. Behaving as a "rational optimizer," how many units of this activity should…

A: In economics, rational optimization involves making decisions that maximize the net benefit or…

Q: The American Baker’s Association reports that annual sales of bakery goods last year rose 15…

A: Corporate economics is focused on the examination and analysis of corporate finances utilizing…

Q: Business markets have several characteristics that contrast sharply with those of consumer markets.…

A: Business markets and consumer markets represent two distinct realms of economic activity, each…

Q: Write short notes explaining the meaning and significance of the following concepts in economic…

A: Economic theory refers to a set of principles, concepts, and models that economists use to study and…

Q: All of the following statements about value are correct EXCEPT The value of a thing is determined by…

A: Answer- The value of a thing is determined by the marginal utility this thing brings to the…

Q: Consider a firm that has two types of employees in their marketing department with the following…

A: Following are the issues with each kind of workers as far as bonus 1. Sales staff-They are paid…

Q: In 1750, a large number of honey beekeepers in Kirkcaldy were selling honey in identical jars. By…

A: The economics as a study is based upon the basic idea that there is resource scarcity present with…

Q: Harriet McNeil, proprietor of McNeil's Auto Mall, believes that it is good business for her…

A: * solution :- From the above information the answer is given as below (1) The Poisson distribution…

Q: There are several hamburger shops around you. You are trying to find ways to make your hamburger…

A: A monopolistically competitive firm will look to differentiate its product from its competitors as…

Q: Respond to the question with a concise and accurate answer, along with a clear explanation and…

A: We are given information in this issue regarding the American Baker's Association reporting a large…

Q: Productive efficiency means output (production) is produced in the long run at

A: A perfectly competitive market is the type of market structure in which several buyers and sellers…

Q: A startup is creating a blockchain-based system for supply chain management, aiming to increase…

A: The question is asking about the primary enhancement that the application of blockchain technology…

Q: Name WTP (in Taka) Name WTA (in Taka) Rahim (RA) Karim (KA) Jack (JK) Jones (JO) Rahima (RM) Karima…

A: Willingness to pay (WTP) is the maximum amount that an individual would pay to obtain a good.…

Question

Jorge, after years working with the consumer market, has just been transferred into a new job dealing with buyers in the B2B market. What key difference will Jorge likely notice between consumer markets and B2B
markets?
Multiple Choice
Businesses focus on developing wants and needs in consumer markets, while firms work to satisfy the existing needs of the B2B market.
Business-to-business markets make greater use of marketing intermediaries such as wholesalers and retailers than do consumer markets.
Buyers in the business-to-business markets tend to be more rational than buyers in consumer markets.
Relationship marketing tends to be much more important in consumer markets than in the business-to-business markets.

Expert Solution

This question has been solved!

Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.

This is a popular solution!

SEE SOLUTION Check out a sample Q&A here

Step 1

VIEW

Step 2

VIEW

Trending now

This is a popular solution!

Step by step

Solved in 2 steps

SEE SOLUTION Check out a sample Q&A here

Knowledge Booster

Learn more about

Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, economics and related others by exploring similar questions and additional content below.

Similar questions

+. MindTap - Cengage Learning geBrain - My Home https://ng.cengage.com/static/nb/ui/evo/index.html?elSBN=9781337106603&id=D605113824&snapshotld%3D1398187& Q Search this CENGAGE MINDTAP Homework (Ch 08) 1. Individual Problems 8-1 The widget market is competitive and includes no transaction costs. Five suppliers are willing to sell one widget at the following prices: $22, $12, $8, $4, and $2 (one seller at each price). Five buyers are willing to buy one widget at the following prices: $8, $12, $22, $30, and $38 (one buyer at each price). For each price shown in the following table, use the given information to enter the quantity demanded and quantity supplied. Quantity Supplied Quantity Demanded Price (widgets) (widgets) ($ per widget) $2 $4 $8 $12 $22 $30 $38 widgets. per widget, and the equilibrium quantity will be In this market, the equilibrium price will be EO WE O Type here to search %24
Explain why new entrepreneurial business owners select or target their customers. What are the disadvantages associated with not choosing the customers?
Please explain why other options are incorrect.
Please solve it by yourself with proper explanation and calculation don't use ai
Several factors may be influential on the behaviour of buyers and there also exists different types of buying behavior/situations. At this point, it is important for marketing managers to differentiate between consumers and business buyers since these two buyers are quite different from one another. Based on this information, please Explain in detail the differences between consumers and business buyers with respect to the different factors that may influence their behavior as buyers and the types of buying behavior/situations they may be faced to.
options decrease or increase right or left
Many crimes against property (burglary, for example) can be thought of as acts that have immediate gains but run the risk of long-run costs. If imprisoned, the criminal loses income from both criminal and noncriminal activities. Using the framework for occupational choice in the long run, analyze what kinds of people are most likely to engage in criminalactivities. What can society do to reduce crime?
Answer the given question with a proper explanation and step-by-step solution. Suppose that following graduation you have four job offers. Job 1 is in Spokane Washington, and pays a salary of $50,000 per year, Job 2 is in San Jose California and pays $60,000 per year, Job 3 is in Raleigh NC and pays $45,000 per year, Job 4 is in Sarasota Florida and pays $40,000 per year. If you choose job 4, what is the opportunity cost of this decision?
For each of the following scenarios, identify the number of firms present, the type of product, and the appropriate market model. Select the matching entry for each dropdown box in the following table. Scenario Number of Firms Type of Product Market Model There are hundreds of colleges and universities that serve millions of college students each year. The colleges vary by location, size, and educational quality, which allows students with diverse preferences to find schools that match their needs. There are hundreds of high school students in need of algebra tutoring services. Dozens of companies offer tutoring services; parents view the quality of the tutoring at the different companies to be largely the same. In a small town, there are four providers of broadband Internet access: a cable company, the phone company, and two satellite companies. The Internet access offered by all four providers is of the same speed. Almost…
Recent years have seen the introduction of Uber and Lyft, which enable customers to find a ride using an app on their smartphone. In many cities, the two services undercut traditional taxi fares, leading to phenomenal growth. Uber and Lyft are best described as the a. marketing concept. b. sharing economy economic model. c. environmental marketing model. d. customer lifetime value model. e. sustainable marketing model.
Which statement best describes how scarcity is an important part of business economics? Scarcity permits consumers to establish the cost at which producers will manufacture goods. Scarcity forces consumers and producers to consider the opportunity costs of decisions. Scarcity forces producers to reduce supply to meet consumer demand. Scarcity allows consumers and producers to avoid distinguishing between needs and wants.
The lean start-up approach suggests that entrepreneurs refine the products or services offered by their firms by experimenting with them on customers. True or False?