Greg Is a Retired NBA Basketball Player Who Has Returned

question 64

Essay

Greg is a retired NBA basketball player who has returned to his small hometown to open a basketball gym.There are no other businesses in his area like his concept and he wants to reach his customers.What psychological influences on his consumers does Greg need to consider before opening his location and how will they apply to the basketball gym?

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Definitions:

Factor Market

A factor market is the marketplace where productive resources like labor, capital, and natural resources are bought and sold.

Product Market

A marketplace where finished goods and services are bought and sold.

Product Market

The marketplace in which final goods or services are offered for purchase by consumers, businesses, and the public sector.

Cell Phones

Portable electronic devices used for communication over long distances without a physical connection.