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- The characteristics of business markets are12:
- Fewer buyers than consumer markets, but larger buyers that purchase in bulk
- Supplier-customer relationship that is more personal and long-term
- Geographically concentrated buyers that are located in industrial or commercial areas
- Derived demand that depends on the demand for the final product or service
- Inelastic demand that is not affected by price changes
- Fluctuating demand that is influenced by economic and environmental factors
Learn more:✕This summary was generated using AI based on multiple online sources. To view the original source information, use the "Learn more" links.Here are a few common characteristics of business markets: Business markets often serve a smaller consumer market that contains large buyers. Business markets can facilitate business between companies that are far away from each other in terms of location. Demand in business markets remains consistent and unaffected by changes in prices.www.indeed.com/career-advice/career-developme…Let’s discussed the characteristics of business markets in detail: Fewer Buyers Large Buyers Supplier Customer Relationship Geographically Concentrated Buyers Derived Demand Inelastic Demand Fluctuating Demandgetuplearn.com/blog/business-market/ - People also ask
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