A group of high school freshman stop by an electronics store.The store has just received a new line of high-end flat panel televisions.The televisions range in price from $2,000 to $7,000.All of the students want this new style of TV,but none has the means to buy one.Is this group of consumers a potential market for the flat-screen televisions?
A) Yes,they are a potential market since they are all about the same age.
B) No,they do not have the ability to purchase at this time.
C) No,to qualify as a market,they must need the product.
D) Yes,they are a market because this product could satisfy their consumer wants and desires.
E) Yes,they are a market because this group shares relatively similar product needs and purchasing characteristics.

Question

Quizplus · Accepted Answer

A potential market requires both interest and the ability to purchase. Since the students lack the means to buy the televisions, they do not qualify as a potential market.

A Group of High School Freshman Stop by an Electronics