Questions: A is a group of people who have a need, purchasing power, and the desire and authority to spend money on goods, services, and ideas. (Enter one word in the blank)

A is a group of people who have a need, purchasing power, and the desire and authority to spend money on goods, services, and ideas. (Enter one word in the blank)

Transcript text: A $\square$ is a group of people who have a need, purchasing power, and the desire and authority to spend money on goods, services, and ideas. (Enter one word in the blank)

Solution

Answer

The answer is "market."

Explanation

In marketing and economics, a "market" is defined as a group of people who have a need, purchasing power, and the desire and authority to spend money on goods, services, and ideas. This concept is fundamental to understanding how businesses identify and target potential customers. A market is not just a physical place but also a conceptual space where buyers and sellers interact.

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