Which of the following is the best definition of a market?
a. a group of individuals and/or organizations that have needs for products in a product class and have the ability, willingness, and authority to purchase those products
b. a group of individuals who have the ability to purchase products or services
c. a group of individuals who desire the products and services a firm offers
d. a select group of business buyers who have the authority to make purchasing decisions
Answer: a. a group of individuals and/or organizations that have needs for products in a product class and have the ability, willingness, and authority to purchase those products