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Institutional markets are the category under which hospitals, colleges, museums, and universities come.
Institutional organizations buy goods and services for the production of their own goods and services. They are non-profit organizations that are established only to offer services to the public. These markets are categorized as low budgets and captive patrons.
The main player of the institutional department is the government. Most hospitals, colleges, universities, and museums fall under the control of the government. For the other hospitals, colleges, universities, and museums that are under the private players, a seperate account will be maintained by them for maintaining the record of transactions.
The other option like business customers which deals with the normal buying and selling transactions. The reseller market consists of the wholesaler market that sells goods to the retailer for reselling the goods. The government market is where government transactions are carried on. The producer market produces the goods or manufacturers the goods and sells them to the market. So the institutions that are provided all come into the institutional markets.
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Answer:
the answer is They are seeking Economic <u>Value</u>.
Explanation:
In a marketing context, customers seek a fair return in goods and/or services for their hard-earned money and scarce time. They are seeking <u>value</u>, which reflects the relationship of benefits to costs, or what you get for what you give.
Value is variable, lets zero in on Economic Value since the subject is effective demand from a customer.
Economic Value is the worth or benefit derived from a product or service paid for. It could be comfort, pleasure, satisfaction, relief from pain, etc.
It is directly proportional to the amount paid for. Therefore, greater value attracts higher cost and vice versa.
Answer: $170,421
Explanation:
Using the Accounting equation;
Assets = Liabilities + Equity
Assets = Cash + Inventory + Goodwill and other assets + Net plant and equipment + Accounts receivable + Other current assets
= 23,015 + 212,300 + 78,656 + 713,500 + 141,258 + 11,223
= $1,179,952
Equity
= Common stock + Retained earnings
= 313,000 + 512,159
= $825,159
Liabilities = Assets - Equity
Current Liabilities + Long term debt = Assets - Equity
Long term debt = Assets - Equity - Current Liabilities
= 1,179,952 - 825,159 - (163,257 + 21,115)
= $170,421
