Channels for Business Goods, When Compared to Those for Consumer

question 61

Multiple Choice

Channels for business goods, when compared to those for consumer goods, tend to be

• A)Shorter and based on larger orders
• B)Longer and based on smaller orders
• C)Less consistent and more transactional
• D)more service-based and indirect in nature

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Definitions:

Industry

Refers to a specific sector of the economy that produces and distributes goods or services, such as the technology or pharmaceutical industry.

Short Run

A period in economic analysis during which some factors of production are fixed, allowing only some inputs or operations to be adjusted.

Price Discrimination

A pricing strategy where a seller charges different prices for the same product or service to different customers, based on what the seller believes each customer can afford or is willing to pay.

Non-price Competition

A market strategy in which a company tries to distinguish its product or service from competing products on the basis of attributes like design and workmanship instead of lowering prices.