How would you describe/explain the concept of a relevant market? What does a product-oriented...

Question:

How would you describe/explain the concept of a relevant market? What does a product-oriented definition and a benefit-oriented definition have to do with it? What are the aims of defining a relevant market?

Marketing:

Marketing is an essential business activity that involves building a connection with and meeting customers' needs for goods and services. The key to marketing success is conducting research and developing strategies for advertising, selling and providing access to goods and services to companies or individuals.

Answer and Explanation:

A market in which particular products or services are sold is known as a relevant market. It's the point where a geographical market and a relevant...

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What is a Marketing Concept? - Definition & Examples

from Principles of Marketing: Help and Review

Chapter 3 / Lesson 23
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