In marketing terms, what is a market? A. A retail establishment B. All sellers of a product or service C. The set of actual and potential buyers of a product or service D. A company's current customers E. The products that are sold to customers

Question

Jimena Higgins

Business

13 December, 05:22

In marketing terms, what is a market? A. A retail establishment B. All sellers of a product or service C. The set of actual and potential buyers of a product or service D. A company's current customers E. The products that are sold to customers

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Answers (1)

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Eliana Gordon · Answer 1

The set of actual and potential buyers of a product or service

Explanation:

To market a product means taking deliberate actions to make a product known to buyers. It involves creating awareness of the benefits of a product with expectations that customers will buy it. Marketing activities are directed towards customers and potential customers of the products or services.

A customer is an individual or institution that buyers a product or a service. They buy for consumption or as inputs for the production of more goods and services. Marketers create enticing messages to convince buyers to purchase. Therefore, buyers and potencial customers are the market for products and services.