Briefly Describe the Four Major Categories of Customers in Business

question 13

Essay

Briefly describe the four major categories of customers in business marketing.Give examples of companies or organizations in each category.

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Definitions:

Market Demand

The total quantity of a good or service that all consumers in a market are willing and able to purchase at a given price.

Tax Revenue

Income that is gained by governments through taxation, used to fund public services and government obligations.

Demand Curve

A graphical representation of the relationship between the price of a good and the quantity demanded, typically downward sloping to the right.

Tax

Mandatory monetary contributions or taxes levied by a government on people or organizations to support government spending.