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Question
A group of middle school students stop by a bicycle 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 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.
Answer
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Related questions
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