A group of high schoolers stop by an electronics store.The store has just received a new line of high-end flat-screen televisions.The televisions range in price from $2,000 to $7,000.All of the students want this new style of TV,but none has the means to buy one.Is this group of consumers a potential market for the flat-screen televisions?
A) Yes,they are a market because this group shares relatively similar product needs and purchasing characteristics.
B) No,they do not have the ability to purchase at this time.
C) Yes,they are a potential market since they are all about the same age.
D) No,to qualify as a market,they must need the product.

Question

Quizplus · Accepted Answer

A potential market must have both the desire and the ability to purchase a product. Since the students do not have the means to buy the televisions, they are not a potential market.

A Group of High Schoolers Stop by an Electronics Store