Market Identification

What is a Market? The simplest way to define a securities industry is to think of it as consisting of all the people or organizations that may feature an interest in purchasing a come with’s products or services. In other words, a market comprises all customers who have lacks that may be execute by an organization’s offerings. Yet just having a need is not enough to define a market. many an(prenominal) people may say they have a need for a California mansion that overlooks the Pacific Ocean just now most would not be considered potential customers of a authorized estate agent who is attempting to sell such a property. So other factors come into play when defining a market. The counterbalance factor is that markets consist of customers who are qualified to make a bargain for. Qualified customers are defined as those who: • Seek a solution to a need, and • Are eligible to make a purchase, and • Possess the financial ability to make the purchase, and • Have the office staff to make the decision. Note that a customer must dismount word ALL factors listed above, though for some markets the customer may have a surrogate who will handle some of these qualifications for a targeted customer. For instance, a market may consist of pre-teen customers who have a need for certain clothing items but the actual purchase may rest with the pre-teens’ parents. So the parents could possibly assume unitary or more surrogate roles (e.g., financial ability, authority) that will resolvent in the pre-teen being a qualified customer.



A aid factor for defining a market rests with the partnership’s ability to service the market. To an organization a market hobo only exist if the solutions sought by customers are ones that the company can satisfy with their offerings. If a company identifies a root of customers who are qualified to make purchases they only become a market for the company once the company is in a position to execute marketing activities designed to service those customers. Thus, for the purposes of this tutorial, a market...

Is this the right essay for you?

Watch the video to a lower place to read 2 more pages now.

or

If you want to get a full essay, order it on our website: Orderessay



Order your essay at Orderessay and get a 100% original and high-quality custom paper within the required time frame.