According to the text, a market is defined as
A) a place to buy products.
B) the buyers of the products that a company develops, promotes, prices, and distributes.
C) the specific group of customers on whom an organization focuses its marketing efforts.
D) a group of individuals and/or organizations that have needs for products in a product class and have the ability, willingness, and authority to purchase those products.
E) the percentage of a group of customers that actually buys a specific product from a specific company.

Question

Quizplus · Accepted Answer

The definition of a market provided in the text is "a group of individuals and/or organizations that have needs for products in a product class and have the ability, willingness, and authority to purchase those products." This describes a market as a group of potential customers who are able and willing to purchase a certain type of product.

According to the Text, a Market Is Defined as