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LSDefine

Simple English definitions for legal terms

product market

Read a random definition: drug trafficking

A quick definition of product market:

A product market is a place where people buy and sell things. It can be a physical place like a store or an online marketplace. It's where people go to find what they need or want to buy. For example, if you want to buy a new phone, you would go to a product market that sells phones. The product market includes all the different options for phones, like different brands and models. It's important to understand the product market when you're trying to sell something because you need to know who your competition is and what people are willing to pay for your product.

A more thorough explanation:

A product market is a part of a relevant market that applies to a specific product or service. It identifies all reasonable substitutes for the product and determines whether these substitutes limit the firm's ability to affect prices. In simpler terms, it is the market where a particular product or service is sold.

For example, the smartphone market is a product market that includes all the different brands and models of smartphones available for purchase. Another example is the fast-food market, which includes all the different fast-food chains and their menu items.

Understanding the product market is important for businesses to determine their competition and pricing strategies. By identifying their substitutes and competitors, businesses can adjust their prices and marketing efforts to stay competitive.

product mark | products-liability action

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THATS SO FUNNY
i cant i would go crazy
JumpySubsequentDolphin
20:50
i need to know who decided to do that.
JumpySubsequentDolphin
20:50
omg im on a plane weeeee
the devil
youre on a plane??? LSD made the mile high club??
20:50
yo splitterus are you in school already
20:50
it says ur c/o 2027
JumpySubsequentDolphin
20:51
@SplitterusClitterus: HAHAH yes
ur user is hilarioussss and no i just graduated this may and am now applying ---also im out of messages so ill take a lil
20:52
roger dat. see u in heck
im back, r u applying this cycle too
JumpySubsequentDolphin
21:32
this child fell asleep on me
JumpySubsequentDolphin
21:32
im so uncomfortable
just push him off the entire seat
JumpySubsequentDolphin
21:34
LMAOOOO
JumpySubsequentDolphin
21:35
no he’s literally like 8 and he fully just put his head on my bicep and slept
JumpySubsequentDolphin
21:35
he has since moved
22:12
@SplitterusClitterus: me yesterday
gulc baby pls text me back... i miss you ...... :(
22:23
i just went into a discord vc and yelled "YALL I JUST GOT INTO J.M. SCHOOL OF LAW"
22:24
people were getting excited :sob:
22:25
then someone was like "what does jm stand for" and i was like .. well
AHHAHAHAHAHAHHAHAHAHAHAHAH
@JumpySubsequentDolphin: wait this is so cute, also where r u going
JOE MBIDEN
JumpySubsequentDolphin
22:39
@splitty Oregon!
oh yay for what thats so random
JumpySubsequentDolphin
22:45
haha my brother and sister in law live there
so cutie oregon is beatiful
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