Business, Institutional & Govt. Markets

• BUSINESS MARKET: The business buyer is needed to process the industrial goods and to reach consumpable goods to the consumer, which market is formed by business buyer is called business market. In business market a large amount of goods are sold than consumer market.
According to Webstar and Wind, "The business market consists of all the business that buy goods and services to use in the production of other products and services that are sold, rented or supplied to others.
According it Steven J. Skinner, "A business market is a market that includes individuals or groups that purchase a specific kind of product for resale, direct use in the production of other products or use in general daily operations."
• Institutional Market: The institutional market consists of schools, hospitals, nursing homes, prisons and other institutions that must provide goods and services to people in their care. Many of these organization are characterized by low budgets and disable persons.
• The Government Market: The government market consists of governmment units federal state and local that purchase or sent goods for carrying out the main functions of government. Government buying is based on acquiring products and services that the voters and their representatives establish as necessary to carry out public objectives. Government agencies buy an amazing range of products and services. They buy sculpture, chalkboards, furniture, toileteries, clothing materials-handling equipment, fire engines, mobile equipmen and fuel.