Marketers adopt different strategies in order to promote their products in the market.But what is a market? Select the best definition of market from the choices below.
A)specific people and organizations likely to buy certain goods and services
B)people and organizations who regulate the manufacture of goods and services available for purchase
C)spaces or outlets where goods and services can be purchased
D)people and organizations with purchasing power, authority, and willingness to buy goods and services
E)goods and services that serve both the consumer and business

Question

Marketers adopt different strategies in order to promote their products in the market.But what is a market? Select the best definition of market from the choices below.​
A)​specific people and organizations likely to buy certain goods and services
B)​people and organizations who regulate the manufacture of goods and services available for purchase
C)​spaces or outlets where goods and services can be purchased
D)​people and organizations with purchasing power, authority, and willingness to buy goods and services
E)​goods and services that serve both the consumer and business

Quizplus · Accepted Answer

A market is a group of people and organizations with the ability and willingness to buy goods and services. Therefore, option D - “people and organizations with purchasing power, authority, and willingness to buy goods and services” is the best definition of the market. Option A refers to a target market, option B to regulators, option C to retail outlets, and option E to products that serve both consumer and business markets.

Marketers Adopt Different Strategies in Order to Promote Their Products