Once upon a time, Harry Potter and his friends took a magical journey to a special market. In this market, they found all kinds of animals, from mystical creatures to friendly pets.
As they walked through the market, they noticed the different types of animals that were available for sale. There were tiny fairies flitting about, and huge dragons snoozing in the sun. Each animal had its own unique charm and magic to offer.
The market was crowded with all kinds of people who wanted to buy these special creatures. This is what Harry and his friends learned about the variables of the market - different buyers and sellers all looking for something special.
As they continued to explore, Harry and his friends learned about the micro and macro environments of the market. The microenvironment included the colorful stalls and cheerful sellers, while the macroenvironment was the entire enchanting market itself.
They also noticed that the market had different segments for different types of animals, showing the classification of the markets. For example, there was a section for magical birds, a section for mythical creatures, and even a section for friendly pets.
Observing the behavior of the buyers, Harry and his friends learned about the behavior of the consumers. Some people were excitedly choosing their new magical friends, while others were carefully studying each animal and asking questions.
After spending the day in the market, Harry and his friends spoke with the market’s staff who explained how they gathered information about the buyers and their preferences. They learned about the system of marketing information and where it came from.
Reflection Questions