Which of the following is the best example of a "product-market?"
A) The MP3 player market
B) The young adult exercise market
C) The software market
D) The convenience market
E) The status symbol market

Question

Quizplus · Accepted Answer

A product-market refers to a group of consumers who have similar needs and wants and who are likely to purchase a particular product. The MP3 player market fits this definition as it targets consumers who are interested in portable music devices for personal use. The other options (B, C, D, E) are either too broad or not specific enough to be considered a product-market.

Which of the Following Is the Best Example of a "Product-Market