Rona and Lowes are two major home improvement retailers with a significant presence in the Canadian market. However, there are several key differences between these two brands. Rona started in 1939 as a Canadian company focused on serving the domestic market. In contrast, Lowes originated in the US in 1921 and entered Canada later through…
Category: Business
Difference Between Consumer Market and Business Market
When selling a product or service, understanding the key differences between consumer and business market is essential. Although they exchange goods for payment, the purchasing motivations and processes in B2C (business-to-consumer) and B2B (business-to-business) vary greatly. Factors like order volume, buyer rationality, purchase frequency, decision making unit size, and price sensitivity distinguish these segments. Developing…