Question

Companies collect a wide variety of information about their foreign markets to decide in which countries to conduct business and which market segments in these markets they should target. What are the three major markets that exist in all foreign markets

Answer 1

• Consumer Markets
• Industrial Markets
• Government Market

Step-by-step explanation:

Consumer markets are where trade happens with consumption as the final aim. This means that in such markets, the end users are households as well as individual consumers who buy goods and services for their own use. Example; selling cars to people.

The Industrial Market is where trade happens between producers and manufacturers who want to turn the goods bought into finished goods or further processable goods. This is why it is also called the Business market.

In the Government market, the consumers or end users is the Government through it's various arms and levels such as state agencies at the Federal, state or municipal level.