Define and identify the market for each of the following products in terms of (1
ID: 1168038 • Letter: D
Question
Define and identify the market for each of the following products in terms of (1) market scope (local, regional, national, international( state your reasons why you classify them as local, regional, national or global in scope), (2) likely characteristics of the buyers that make up the demand side of the market, (3) whether the demand side is comprised of several distinctive market segments, and (4) any other relevant and identifiable market characteristics:
Coca-Cola.
Textbooks in economics.
Pro football.
No-return, throwaway glass containers.
Personal computers.
Dry-cleaning services.
Explanation / Answer
Coca-Cola.: Coca cola is cold drink which is liked across the world. Hence it forms the international market. Firm can market it in international market. Generally adult polulation is highly inclined towards this product. It has common market and difficult to distribute in the different market segment.
Textbooks in economics: Economics is also subject which is taught across the world. It is also a part of international market. but if economics is concerned with area specific, then it would not be easy to sell it in international market. It has very small market since it is studied by the specific students.
Pro football: This is not international game or confined to the USA and canada. Hence it can be marketed in the domestic areas. young population forms the part of it.
No-return, throwaway glass containers: It has generally local market. it is quite difficult to market it in international market. Although it is local product, it can be given the regional tinge.
Personal computers: It has wide international market. it is not area specific. It has wide and varied customers base. firm always tries to make the different products to suit the varied requirements.
Dry-cleaning services: It has regional or local characters. It is quite difficult to lauch it at the international or national level.
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