A group of middle school students stop by a bicycle store. The store has just received a new shipment of high-end racing bicycles. The bicycles range in price from $1,200 to $3,000. All of the students want one of these new bikes, but none has the means to buy one. Is this group of consumers a potential market for the expensive bikes?

Question

Business

Esther Walker

26 October, 09:21

A group of middle school students stop by a bicycle store. The store has just received a new shipment of high-end racing bicycles. The bicycles range in price from $1,200 to $3,000. All of the students want one of these new bikes, but none has the means to buy one. Is this group of consumers a potential market for the expensive bikes?

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Answers (1)

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Patrick Tyler · Answer 1

No it is not a potential market for the expensive bikes

Explanation:

The reason is that though the consumer has demand for the product but they don't have any tendency to purchase these products so it is not a potential market for the expensive bikes because market is where the consumers have demand and purchasing power required to buy the product.