Business Marketing - role of marketing Flashcards
what types of markets are there
- resource market
- industrial market
- intermediate market
- consumer market
- mass market
- niche markets
what are resource markets
where the production and sale of raw materials occur
E.g. BHP Billiton + Rio Tino (mining)
what are industrial markets
where goods used as supplies in the production process are traded
E.g. Ford who buys parts for their cars from CMI industrial
what are intermediate markets
where businesses purchase products produced by other businesses and sell them. also known as wholesalers
E.g. Flemington markets + wholesalers of flowers to florists
what are consumer markets
where businesses sell their products directly to consumers. also known as retailers
E.g. Harvey Norman + Myers + David Jones
what are mass markets
the market where products are aimed at all consumers regardless of demographics
E.g. petrol + electricity + water
