The Classification System for Business Products Emphasizes Customer Buying Behaviour

question 101

True/False

The classification system for business products emphasizes customer buying behaviour rather than product uses.

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Definitions:

Economic Deregulation

Reduction of government power over certain industries, aimed at improving market efficiencies and fostering competition.

Carriers

Companies that provide transportation services for goods, typically including freight companies, airlines, and shipping lines.

Competition

The rivalry between businesses or suppliers to attract customers and achieve higher sales, often leading to innovation and better quality offerings.

Modal Selection

The process of choosing the most appropriate mode of transportation for goods based on factors like cost, distance, and product type.