Traditional and digital marketing

Understanding potential target markets

A market is a group of customers who have purchasing power and unsatisfied needs.

A market must comprise of the following 

  1. A market must have buying units or customers, they may be individual or business entities. 
  2. Customers must have purchasing power, people that lack money or credit are not viable because no transactions can occur. 
  3. The market must contain buying units with unsatisfied needs , customers will not buy unless they are motivated to do so.

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