WEEK 3

Question 1

becomes a customer when he/she regularly buys or consumes a product or service.

Answer 1

Buyer or Consumer

Question 2

regularly visits a place of business or
patronizes a product or service.

Answer 2

Customer

Question 3

The term consumer refers to the end user of a product or service. They may or may not be a _________.

Answer 3

Customer

Question 4

All the individuals and households who buy or
acquire goods and services for personal consumption

Answer 4

Philip Kotler and Gary Armstrong

Question 5

Two (2) Types of Consumers:

Answer 5

1. Personal Consumers
2. Institutional/Organizational consumers

Question 6

are individuals and households who themselves consume goods or services.

Answer 6

Personal Consumers

Question 7

are businesses, organizations and groups (profit or nonprofit businesses, government agencies and institutions) that buy and consume goods and services during the course of their operations.

Answer 7

Institutional/Organizational consumers

Question 8

is broader than consumer.

Answer 8

Buyer

Question 9

an ultimate buyer.

Answer 9

Consumer

Question 10

Buyers can be classified into two major categories:

Answer 10

1. Consumers
2. Industrial Buyers or business buyers

Question 11

buys for personal consumption

Answer 11

Consumers

Question 12

buys things for to manufacture various other products or to resell or for running of his/her enterprise.

Answer 12

Industrial Buyers or Business Buyers

Question 13

The difference between a buyer and
consumer comes into play when a company is
evaluating its overall business plan.

Answer 13

B2C vs. B2B

Question 14

A company usually falls into one, or both, of two categories:

Answer 14

• B2C – Business to Consumer
  B2B – Business to Business