29 Jun MARKETING 351-Potential Market – the set of consumers who profess some
Question
Terms
a. Potential Market – the set of consumers who profess some level of interest in a defined market offer
b. Mass Market – the set of consumers who profess some level of interest in and have the requisite income to
a defined market offer
c. Available Market – the set of consumers with the interest, requisite income and access to a defined market
offer
d. Qualified Available Market – the set of consumers with the interest, requisite income, access and
qualifications for a defined market offer
2. Scenario
Honda Ltd. of Japan is reviewing the motorcycle market of a Mid-Pacific island. A recent study revealed twenty percent (20%) of the island’s 1,000,000 population exhibited an interest in owning a motorcycle. Of those interested, only fifty percent (50%) have the requisite income to purchase a Honda motorcycle. Three (3) Honda dealerships provide the island’s entire population with access to the defined market offer. However, twenty-five percent (25%) of the interested individuals with the requisite income and access to the defined market offer do not meet the island’s minimum license age requirement of eighteen (18) years of age.
Definition
Calculate the number, not percentage, of the people in each of the following levels of market definition. (Show calculations)
a. Potential Market
b. Mass Market
c. Available Market
d. Qualified Available Market
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