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A Major Segment of the Business Market Is Made Up

question 88

Essay

A major segment of the business market is made up of institutions.Marketers should be aware of the differences between institutions and other businesses.Name and briefly describe two of these differences.


Definitions:

Verifiable Evidence

Information or data that can be substantiated or confirmed through observation, measurement, and documentation.

Proprietorships

A type of business entity that is owned and run by one individual with no legal distinction between the owner and the business.

Partnerships

Partnerships indicate a legal form of business operation between two or more individuals who share management and profits.

Corporations

Legal entities that are separate from their owners, offering limited liability to shareholders, and having the ability to own property, sue, or be sued.

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