Answer: A consumer market is a group of people or businesses who buy goods and services for their own use. The population, income levels, lifestyle choices, age demographics, location, and availability of items can all be used to establish the size and makeup of the consumer market. Based on these factors, consumer markets are generally segmented into several categories in order to better target specific groups with personalized marketing efforts.
Two examples of consumer markets of varying sizes include the luxury vehicle sector in Europe, which is believed to be worth more than $20 billion USD each year, and niche markets like as hand-crafted jewelry makers, which may only have a few thousand clients globally each year but still represent a sustainable business.
Business Markets are composed mainly of businesses that purchase goods or services from other companies instead of consumers directly through retail outlets like supermarkets or online stores; they usually range anywhere from small local enterprises up to large multinational corporations depending on their needs at any given moment. Factors influencing how these types of business-to-business (B2B) transactions take place include trustworthiness among partners involved in deals as well as cost efficiency when it comes down to making purchase decisions regarding certain supplies needed by their operations departments etcetera.
Two examples of B2B Markets could be found within industries such as aerospace manufacturing where Boeing may buy engines from General Electric due to its vast experience working with aviation components; meanwhile smaller scale operations may involve something more localized such as hardware stores selling tools to construction firms located nearby its establishment.
I essentially combined some answers together, I'm so sorry. But I hope this helped!