Which of the Following Statements Is True Regarding the Nature

question 73

Multiple Choice

Which of the following statements is true regarding the nature of the business market?

• A) Distribution channels for business products are significantly longer than those for consumer products.
• B) As compared to business markets, customer relationships in consumer markets tend to last for longer duration.
• C) Personal selling plays a bigger role in business markets than in consumer markets.
• D) As compared to consumer markets, purchase decisions in business markets are relatively simple because of relatively less number of decision makers.

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Definitions:

Social Stratification

The division of society into levels, classes, or groups based on socioeconomic status, power, ethnicity, or other factors.

Social Altruism

The selfless concern for the welfare of others, often leading to actions that benefit someone else at one's own expense.

Social Loafing

The phenomenon where individuals exert less effort when working in a group than when working alone.

Virtual Teams

Virtual teams consist of individuals who work together from different geographic locations and rely on electronic communication for collaboration.