Which of the Following Best Differentiates Business Products from Consumer

question 84

Multiple Choice

Which of the following best differentiates business products from consumer products?

• A) are more technical in nature
• B) are often bought on the basis of specifications and bids
• C) are more complex in their pricing
• D) tend to be standardized
• E) all of these choices are correct

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Definitions:

Major External Factors

Key influences originating outside of an organization that can significantly impact its performance and strategy, such as economic, social, technological, and political conditions.

Direct Competition

Two or more businesses offering products or services that directly compete against each other.

Currency Fluctuation

Refers to the variations in the value of one currency relative to another, which can impact international trade and investments.

Substitute Products

Goods and services that perform very similar functions and can be used in place of one another.