ARBUS302 Study Guide - Final Guide: North American Industry Classification System, Retail, Brand Licensing

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Document Summary

The process of buying and selling goods or services to be used in the production of other goods and services, for consumption by the buying organization, or for resale by wholesalers and retailers. The distinction between a b2b and a b2c transaction is not the product or service itself; rather, it is the ultimate purchaser and user of that product or service. Manufacturers: buy raw materials, components, and parts that allow them to manufacture their own goods. Resellers: marketing intermediaries that resell manufactured products without significantly altering their form, can be in a b2b or a b2c transaction. Institutions: hospitals, educational organizations, prisons, religious organizations, and other nonprofit organizations, also purchase all kinds of goods and services for the people they serve. In most countries, the central government tends to be one of the largest purchasers of goods and services. Companies may segment their business customers according to end use application depending on the different ways customers use their products.