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LSDefine

Simple English definitions for legal terms

product market

Read a random definition: political

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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MIAMI A
[] AromaticTroubledDormouse
20:55
How does one know if they are UR1 or UR2?
[] AromaticTroubledDormouse
20:56
CONGRATS MACAQUE!
TY
got a random stanford email and almost had a heart attack
ALSO CONGRATS!
Congrats1!
21:15
Miami A, yall I'm so excited I could cry.
21:15
Feel like I can finally stop holding my breath!! Whew!!!
[] baddestbunny
22:16
every time I get accosted by a strange man who follows me around because my male coworkers were too busy talking to walk me back to my car I get closer to saying we need to bring back traditional gender roles
Dkk
22:32
Nice! @Macaque
Dkk
22:32
@Aromatic, Have to guess.
Dkk
22:33
That sucks @Bunny do you have to go to the hospital?
[] baddestbunny
22:40
I said accosted not assaulted
23:35
guys. my notre dame address just went long is this good or bad
1a2b3c4d26z
23:37
Oooooo me too
23:37
omg is this good or bad
Dkk
23:47
Idk if gender roles are gunna fix that then.
23:49
it looks like most people who applied in october last cycle didn't get a decision until january... does it even mean anything that our addresses went long??
hows ED 2 compared to ED 1?
Dkk
0:10
No idea
windyMagician
0:34
reporting live to say my ndls address also went long
does it mean anything ^
Dkk
2:21
NDLS and Fordham took a very long time last year. It's good info for people to know.
[] baddestbunny
4:29
let’s get after it boys and girls
Dkk
5:21
I gtg to bed soon.
Dkk
5:22
Big day today. Gunna be a crazy one. I will sleep through the first half.
good morning lsd it is 5 am EST
also jazzy my ndls address went long ages ago i sadly do not think it means anything
my stanford address also went long LOL i think at most it's an indicator it's under review
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