Question

In business markets, individuals or groups purchase products for one of three purposes. These purposes areA) resale, wholesale, and direct useB) wholesale, direct use, and use in producing other productsC) resale, wholesale, and use in producing other productsD) resale, direct use in producing other products, and use in general daily operationsE) use in general daily operations, wholesale, and resale.

Answer 1

Answer:

D). Resale, Direct Use in Producing Other Products and Use in General Daily Operations

Explanation:

Business Groups represent a group of people who purchase goods and services for resell, new products and daily operations purposes.

Resale Purpose- This include wholesalers and retailers, they purchase these goods and services do not modify them but sell them in order to make profits. These are called Reseller markets

Use in Producing other Products- This include category of Producer markets. They include manufacturing and construction compaines, they buy goods and services for use in producing sellable products to consumers for profit making.

Direct use in General Daily Operations- Those who purchase goods and services for direct use are divided into two categories and they are not for profit making purposes.

• Government Markets- They buy goods and services through bidding processes and they include state, local and federal governments
• Institutional Markets- They include religious organisations among other NGOs who purchase goods an services to ensure community benefits.

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