Market Demand

According to Kotler (2000), there are more than 90 varieties of market demand across five different space levels and three different time levels. For example, market demand may be for the short-term or long-term and it may cover a region, state, or the entire country or globe. With respect to market potential, market potential is defined as "the set of consumers who profess a sufficient level of interest in a market offer" (Kotler 2000, 62). Despite market potential, potential consumers must have access to product and have available income to afford purchasing it.

With respect to market demand and market potential for car insurance in Carson, California, a survey of demographics for the city helps define the "available market" - the market of consumers with access and income to afford the product. Sixty percent of the 66,988 residents of Carson who are 16-years of age or older, or 40,590, are employed (Profile 2000). Of the 40,590 employed residents, 36,500 of them commute to work with 73.9% driving alone and another 18.2% relying on carpooling (Pro

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Category: Economics - M