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    • Join Date: Jan 2007
    • Posts: 1,740
    #1

    Who is potential customer?

    Philip Kotler -- "A market consists of all the potential customers sharing a particular need or want who might be willing and able to engage in exchange to satisfy that need or want."


    Could anyone explain this definition of market? (Particularly `what is potential customer'?)


    • Join Date: Sep 2006
    • Posts: 132
    #2

    Re: Who is potential customer?

    Quote Originally Posted by user_gary View Post
    Philip Kotler -- "A market consists of all the potential customers sharing a particular need or want who might be willing and able to engage in exchange to satisfy that need or want."


    Could anyone explain this definition of market? (Particularly `what is potential customer'?)
    potential customer is a person who may buy a particular thing. there is a high possibility of this person buying that thing.

    coming to the definition of the market,
    ' potential customers sharing a particular need or want' - those people who have a common need or want for a particular thing and are considered as potential customers because they may buy that

    'need or want' - need is your necessity, and want is your choice.
    For example, food is your need, and sandwich is your want.
    Sandwich is your need, and a particular brand is your want.

    'who might be willing and able to engage in exchange to satisfy that need or want' - those potential cutomers may be willing to buy and can buy that particular thing

    'engage in exchange' - buy; give money and get something; transaction

    A market is a group of those people who have a need for that particular thing and may buy that thing in future.


    • Join Date: Jan 2007
    • Posts: 1,740
    #3

    Re: Who is potential customer?

    Quote Originally Posted by sandhya.sha View Post
    potential customer is a person who may buy a particular thing. there is a high possibility of this person buying that thing.

    coming to the definition of the market,
    ' potential customers sharing a particular need or want' - those people who have a common need or want for a particular thing and are considered as potential customers because they may buy that

    'need or want' - need is your necessity, and want is your choice.
    For example, food is your need, and sandwich is your want.
    Sandwich is your need, and a particular brand is your want.

    'who might be willing and able to engage in exchange to satisfy that need or want' - those potential cutomers may be willing to buy and can buy that particular thing

    'engage in exchange' - buy; give money and get something; transaction

    A market is a group of those people who have a need for that particular thing and may buy that thing in future.
    Thank you very very much -- Sandhya.
    Really, I like your explanation.


    • Join Date: Sep 2006
    • Posts: 132
    #4

    Re: Who is potential customer?

    Quote Originally Posted by user_gary View Post
    Thank you very very much -- Sandhya.
    Really, I like your explanation.
    You are most welcome, user_gary.

    Regards,
    Sandhya

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