Describe the characteristics of markets and market segments. A market is composed of individuals or organizations with the ability and willingness to make purchases to fulfill their needs or wants. A market segment is a group of individuals or organizations with similar product needs as a result of one or more common characteristics.
1. Mercedes-Benz is thinking about advertising its cars to college students. Do you think that college students are a viable potential market for Mercedes? Why or why not?
2. Go to the Web site www.careermag.com. How are visitors to the site segmented when seeking relevant job openings? Report your results.