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Definitions from the Web

Term: Product Market

Description:

The term "product market" refers to the economic concept of the space or arena where goods or services are bought and sold. It represents the intersection between consumer demand and the supply of products.

Possible Related Products:

• Products
• Marketplace
• E-commerce

Senses and Usages:

Sense 1: The general market or industry in which a specific product or range of products is bought and sold.

Example Sentence: The smartphone industry is a highly competitive product market.

Sense 2: The target audience or consumer group that a particular product is intended for.

Example Sentence: Our company's new line of luxury handbags is specifically designed for the high-end product market.

Sense 3: A specific geographic location where products or services are marketed or sold.

Example Sentence: Our company plans to expand into the European product market by opening retail stores in major cities.

Sense 4: The evaluation and analysis of customer needs, preferences, and competitors within a specific product category.

Example Sentence: Before launching our new beverage, we conducted extensive market research to understand the product market and identify potential opportunities.