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1) Geographically concentrated: These markets are geographically concentrated and are not scattered over the geographic area.
2) Limited buyers: The market is limited to the industrial users as they are confined to particular areas and also because the concentration of industries is in the hands of a few industries. Eg: Machinery supply for railways and automobiles factories are sole to a very small no. Of firms.
3) Derived demand: The demand for industrial goods depends upon the demand of other goods. Ultimately, on the demand of consumer goods.
4) Infrequent purchase: Industrial purchases are made only once a year, and not frequently.
5) Large individual purchase: The purchase is always done in large quantities. Though the no of orders placed would be small, but the order would be large.
6) Technical considerations: It assumes greater significance because the goods are bought for a specific use in the business. The products are manufactured according to the instruction and specification of the users.
7) Leasing instead of buying: In the industrial market they lease out rather than purchase on outright basis. Eg: Transport agencies, do not purchase public vehicles but use them on hire basis.
8) Reciprocal buying: It refers to the barer system. There will be an exchange of goods without the use of money.
9) Channels of distribution: Every middleman involved in channel of distribution has to compensate for services render. This compensation is included in the price.
a. Producer-Industrial user (Direct channel)
b. Producer-Industrial distributor-Industrial user (Indirect channel)
c. Producer-Agent- Industrial user (Indirect channel)
d. Producer- Agent-Industrial distributor-Industrial user (4 level channel)
What else can I help you with?
Computers food clothing cars and appliances are tangible products known as?
Computers, food, clothing, cars, and appliances are tangible products known as goods. These goods are physical items that can be touched, seen, and measured, distinguishing them from services, which are intangible. Goods can be further categorized into consumer goods, which are intended for personal use, and industrial goods, which are used for production or business purposes.
Are the benefits to consumers arising from international trade the same in industrial goods and consumer goods or not?
Household consumer vs Industrial consumer
Characteristics of consumer goods vs industrial goods?
Consumer goods are sold directly to consumers and industrial goods are sold to industries. Examples: An industrial good is a part for a car that is manufactured by one company and sold to another that assembles the car. A consumer good is the finished car.
The change from handmade goods to goods made by machine has become known as the?
industrial revolution
Why was the U.S. economy so important to the world s economy in the 1920s?
Why was the U.S. economy so important to the world economy in the 1920s? U.S. factories produced half of the world's industrial goods. The United States owed money to other countries at that time. U.S. citizens imported more goods than any other country. The United States was owed money by other countries.
What are some distinguishing features of digital markets and digital goods?
Digital goods are items that can be stored, delivered, or used in an electronic format. These goods are shipped electronically through emails or downloads.
What is the distinguishing features of the parrot?
Bright colors are some distinguishing features of the parrot.
What are the distinguishing features?
penises
What are three distinguishing features of euglenophytes?
Two distinguishing features of euglenophytes are 2 flagella and chloroplast. The third distinguishing feature is pellicle. A flagellum can be described as a lash-like appendage.
What are ladybugs distinguishing features?
Spots
What are distinguishing features about Africa?
the trees
What are the distinguishing features of the programming language called short code when was it invented?
what are the distinguishing features of the programming language called Short Code?
Are there any distinguishing features about arthropods?
Yes, there are. Arthropod distinguishing features are segmented bodies, an exoskeleton made from chitin, and joint appendages.
What are the distinguishing characteristics?
Distinguishing characteristics are those characteristics that distinguish you or an object from others of its kind. Many products have features that are distinguishing characteristics.
What arethe distinguishing features of monetarism?
monatrism
What were hera distinguishing features?
Beautiful body
What are the differences between consumer goods and industrial goods?
Consumer goods are for sale as is to the public. Industrial goods require finishing.
