A(n) ________ is the set of actual and potential buyers of a product or service

A(n) ________ is the set of actual and potential buyers of a product.

MKT Chapter 1

A(n) ________ is the set of actual and potential buyers of a product.

A) market
B) audience
C) group
D) segment
E) exchange

Answer: A

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A market is the set of all actual and potential buyers of a product or service. Marketing means managing markets to bring about profitable customer relationships. Consumers also market when they search for products, interact with companies to get more information, and make purchases.Click to see full answer. Herein, what is difference between actual and potential buyers?who is actual buyer and who is potential buyer In Marketing an actual buyer is a buyer who is committed towards the purchase of a product whereas a potential buyer is interested in a purchase but may not purchase the product.Likewise, are human wants that are backed by buying power? Demands: are human wants that are backed by buying power. Market offerings: are some combination of products, services, information, or experiences offered to a market to satisfy a need or want. Accordingly, is the set of benefits a company promises to deliver? the set of benefits or values a company promises to deliver to consumers to satisfy their needs. the idea that consumers will not buy enough of the firm’s products unless it undertakes a large scale selling and promotion effort.What step is most important for sellers to focus on?3) It seems to me that the step which is most important for sellers to focus on is working to attract new customers regardless of the costs.

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