Asked by
sanjay kafle
on Dec 16, 2024Verified
In a marketing context, a market refers to
A) people with a similar want for a particular product or service.
B) people with both the desire and ability to buy a specific offering.
C) the central location for all buying and selling of products and services.
D) an open space or covered building where vendors convene to sell their offerings.
E) the free operation of supply and demand.
Central Location
A strategic or convenient place for conducting business, usually selected for its accessibility to customers or as a distribution hub.
Specific Offering
A distinct product or service presented to the market by a business.
Market
A place or arena where buyers and sellers meet to exchange goods and services, often described in terms of the number of buyers and sellers, the nature of the goods and services, and the process of exchange.
- Distinguish between a market and a target market in a marketing context.
Verified Answer
CH
Learning Objectives
- Distinguish between a market and a target market in a marketing context.