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- Unit 04: Market Research
- A market is the set of all actual
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Card 183 / 204: A market is the set of all actual and potential buyers of a product or service. Therefore, what is the best description for the size of a market?
A)
The market includes all of the consumers who will buy your product/service.
B)
The market is the total value and/or volume of products that satisfy the same customer need now and in the future.
C)
The market is defined by the product/service produced.
D)
The market should include a broad definition of the market segment.
E)
The product/service determines the size of the competitions' market.
Answer:
B) The market is the total value and/or volume of products that satisfy the same customer need now and in the future.
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Prof.Melinda SalzerProfessor
Berkeley College
USA
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Attribution:
Charles Jumper and Melinda Salzer. Advertising & Promotion (The Saylor Academy 2014), http://www.saylor.org/courses/bus306/
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