producer market

Buyers and sellers of services, finished goods, raw materials, product components, and equipment used in the manufacture or delivery of other products and services; also called business market. In contrast to the consumer market, the producer market revolves around personal service and selling, profit considerations, reliability, and customization to meet the needs of individual customers. Buyers in the producer market tend to make informed choices. The purchase decision is usually made by several persons with varying points of focus. See also industrial buyer; industrial goods.