Business Markets Have Several Characteristics That Contrast Sharply with Those

question 47

Essay

Business markets have several characteristics that contrast sharply with those of consumer markets. Name and briefly characterize five of those characteristics.

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Definitions:

Sales Forecast

Sales forecast is an estimate of the expected sales revenue for a particular period, based on historical data, market trends, and analysis.

Ending Inventory

The value of goods available for sale at the end of an accounting period, calculated by adding purchases to beginning inventory and subtracting cost of goods sold.

Inventory

Items of value held by a company for the purpose of sale or production, including raw materials, work-in-progress, and finished goods.