There are three types of markets within each foreign market: Consumer, Government, and Industrial. In the consumer market, in developed countries account for most of those nation’s gross domestic products and purchase a wide variety of products, like clothes, food, transportation, and banking services. In the government market, the same goods and services are available what is in the industrial, but focuses more on the roads, airports, ports, clean water, and other major infrastructures of the sort, as well as military and healthcare. In industrial markets, companies purchase equipment, machinery, raw materials, advertising, and the list goes on (Gasper, 2014).
Consumer markets have a large number of buyers, who are worldwide. This is for the people who have an unsatisfied demand in goods. Individuals tend to buy in smaller bundles because they are buying goods for their own personal use versus for a business. Since these personal buyers are worldwide and are also personal shoppers, there are usually many choices to pick from. In this market, the price is very elastic (Chand). An example of this would depend on where that certain individual resides, the age, the income, background, nationality, and many other things (Suttle). A major grocery store, such as Walmart, would be able to strive in America and it is still strives in other countries as well. The reason for this is because in America, the food and other goods in that store are to the American taste, whereas the store in China, would be catered to the Chinese taste.
The largest buyer of goods and services are government markets in most countries. The building of major roadways, waterways, and buildings are purchased, built and provided by the government markets. This market buys their products in large quantities. Usually the government will host bids and whoever is the lowest bidder will be contracted. In these cases, the government will give the contractors an allowance for completing the project in a certain amount of time and the work is quality, then the government will give an allowance to the contractors. Government markets usually work with domestic suppliers over foreign suppliers, because there is usually a lot of paperwork that comes along with it (Chand). An example of this would be the China and the Great Wall. The Great Wall has been standing for thousands of years. The reason for the country keeping it instead of breaking it down is because the emperors believe that it shows the strength of the country.
Industrial markets are business to business purchases and sales. When one business buys from another business, an agreement is reached as far as long-term and large orders. The first interaction all the way to closing the deal is crucial (Marketing Schools). An example of this would be the uniform business and a corporate business. The uniform business would try to appeal to the corporate business so that they would buy their items. Cintas has a great reputation so a lot of businesses, such as Delta, Tara Foods Production and other major industries that require their employees to wear a uniform would purchase their items from Cintas in bulk sizes.