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What types of buyers of a product that a market has?Select one:a.Potential buyersb.All of themc.Actual buyersd.Existing buyer

Question

What types of buyers of a product that a market has?

Select one:

  • a. Potential buyers
  • b. All of them
  • c. Actual buyers
  • d. Existing buyer
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Solution

The market for a product typically has several types of buyers. These include:

a. Potential buyers: These are individuals or entities who have not yet purchased the product, but have the potential to do so in the future. They may be aware of the product and have a need or desire for it, but have not yet made the decision to buy.

b. All of them: This option suggests that all types of buyers are relevant to a market. This is true in the sense that anyone who has the ability and willingness to purchase a product could be considered a part of the market.

c. Actual buyers: These are individuals or entities who have already purchased the product. They have demonstrated their willingness and ability to buy, and may do so again in the future.

d. Existing buyers: This term is similar to 'actual buyers', referring to those who have already purchased the product. They are already a part of the market and may continue to buy the product in the future.

So, the answer to your question is b. All of them, as a market can have all these types of buyers.

This problem has been solved

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