A(n)_____ is defined as being comprised of individuals or organizations that are interested and willing to buy a good or service to obtain benefits that will satisfy a particular need or want and who have the resources to engage in such a transaction.
A)industry
B)firm
C)market
D)marketing channel

Question

Quizplus · Accepted Answer

A market consists of potential customers who have the ability and willingness to purchase a product or service that satisfies their needs or wants. It is not an industry, which refers to a group of businesses that produce similar products or services. Neither is it a firm, which is a single business entity. A marketing channel refers to the different entities that are involved in the movement of a product from the producer to the consumer.

A(n)_____ Is Defined as Being Comprised of Individuals or Organizations