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 the operation of supply and demand.

Question

Quizplus · Accepted Answer

A market in a marketing context refers to a group of people who not only share a desire for a particular product or service but also have the ability and willingness to purchase it. Therefore, option B is the best choice. Option A refers to a target market, which is a subset of a larger market. Option C refers to a physical marketplace, while option D refers to a specific type of marketplace. Option E refers to the basic economic principle of supply and demand.

In a Marketing Context,a Market Refers to