MAR 4942C Lecture Notes - Lecture 3: Electronic Data Interchange

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Published on 27 Nov 2017
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consumer market
a market in which consumers purchase goods and services for their use or consumption
business market
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a market composed of firms, institutions, and governments who acquire goods and services to use as
inputs into their own manufacturing process, for use in their day-to-day operations, or for resale to their
own customers
derived demand
demand in business markets that is closely associated with the demand for consumer goods
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acceleration principle
when demand increases (or decreases) in the consumer market, the business market reacts by
accelerating the buildup (or reduction) of inventories and increasing (or decreasing) plant capacity
desired states
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