Is consumer market same as product market
The consumer market and product market are not the same, but they are closely related. The consumer market refers to the group of individuals who purchase goods and services for personal use, while the product market refers to the overall market for a specific product or group of products.
In other words, the consumer market is a subset of the larger product market. The product market encompasses all buyers and sellers of a particular product or category of products, including businesses and organizations, while the consumer market specifically focuses on individual consumers.
Therefore, while the consumer market may be a significant factor in the overall product market, they are not interchangeable terms.