In order for a market to exisit, there must be a need for a product, ability to pay, willing to buy, authority to buy, and be a group large enough to result in a profit. Without these, you do not have a viable market. What are some things a person can do to prevent not having a viable market?

Q: Explain why The three economic areas of consumers’ incomes, inflation, and recession.  are of…

A: Macro environmental factors are those which are not in control of the business and are also not in…

Q: Is behavioral science research relevant to leaders and managers today? Read an article from a…

A: Introduction:Behavioral science research provides an important source of knowledge about how people…

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A: Product manufacture is dependent on varied factors other than societal welfare. The inherent reasons…

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A: Every consumer has special needs and wants. They satisfy their needs by purchasing or…

Q: What do switching costs mean when it comes to the threat of buyer power?

A: Switching cost is can be described as the the cost incurred by a customer to change the dealer for a…

Q: In which of the following market structures is the degree of control over the price of its product…

A: The four types of price competition levels are explained below: Perfect competition: Under perfect…

Q: Michael Porter's 5-forces framework is designed to analyze? factors affecting profitability in a…

A: The five forces model is a strategic tool used by organizations to understand competitive forces…

Q: you are a consumer planning to buy a computer. You are considering either an Apple or an HP laptop.…

A: I am a consumer who plan to buy a computer. I have to choose from Apple or HP laptop.

Q: Critical Thinking Sometimes marketers will develop strategies to target multiple social class…

A: Price is the monetary value set by the marketer on his goods and services. Price is the strongest…

Q: What are some ways to reduce consumerism in our daily lives?

A: The objective of this question is to identify strategies that can be used to reduce consumerism, or…

Q: What does economic issues have to do with the access and use of information and marketing research.…

A: Digital media technologies are enabling researchers to charge increasingly sophisticated tools to…

Q: What do switching costs mean when it comes to the threat of buyer power?

A: Switching cost is can be described as the the cost incurred by a customer to change the dealer for a…

Q: What is the effect of switching costs on the danger of buyer power?

A: The bargaining power of the buyer is a component of Porter's Five Forces analysis, it is the power…

Q: Would you favor requiring that the market cost of any product or service include all estimated…

A: Market is basically the place where the exchange of goods and services takes place it can be…

Q: Assess the overall attractiveness of the market for the company’s expansion based on your findings,…

A: To assess the overall attractiveness of a market for a company's expansion, you should evaluate…

Career Building in Marketing

Career building means planning for the future professional career of an individual. Career building consists of developing new skills, enhancing knowledge, pursuing education, gaining experience, and finding new opportunities over time.