Question

You are sales director for a company that sells manufactured products to customers who use the products as components of products they produce. Your company is looking to expand, and your boss has asked you to identify some high potential markets for this expansion. What type of market is your company operating in?

Answer 1

Answer: Business market

Step-by-step explanation: In simple words, business market refers to the markets in which business to business transactions takes place. In such markets one business sells their product to customers who are not the final consumers of its utility but use that product to create additional utility.

In the given case, the company is selling its product to a company who use that product as component of some other product. Hence the given case depicts business market.