A group of high school students stop by a sporting goods store. The store has just received a new shipment of high-end racing bicycles. The bicycles range in price from $1,200 to $3,000. All of the students want one of these new bikes, but none has the means to buy one. Is this group of consumers a potential market for the expensive bikes?
A)Yes, they are a potential market since they are interested in the bikes.
B)No, they are not a potential market because they do not have the ability to purchase at this time.
C)No, they are not a potential market because to qualify as a market they must need the product.
D)Yes, they are a potential market because this product could satisfy their consumer wants and desires.

Question

Quizplus · Accepted Answer

A potential market requires both interest in a product and the financial ability to purchase it. Since the students lack the means to buy the bikes, they do not constitute a potential market despite their interest.

A Group of High School Students Stop by a Sporting