MARKETSPAN Meaning and
Definition
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A marketspan is a term used to describe the geographic area or region within which a company or business operates or provides its products or services. It refers to the range or extent of the market that a company serves or has the potential to serve.
In essence, a marketspan outlines the reach of a business in terms of geographical boundaries, helping to define the area where it operates, competes, and aims to attract customers. It takes into consideration factors such as location, target audience, and distribution network, and can vary in size and scope depending on the type of business and industry.
The marketspan of a company can be local, regional, national, or even global, depending on its goals and resources. For instance, a small local retailer may have a limited marketspan, serving customers within a specific neighborhood or town. In contrast, a large multinational corporation may have an extensive marketspan, catering to customers across multiple countries or continents.
Understanding the marketspan is crucial for businesses as it helps them identify and analyze their target market, competition, and potential growth opportunities. It provides insights into the demand for products or services within a specific area and assists in developing effective marketing strategies and expansion plans.
Etymology of MARKETSPAN
The word "marketspan" appears to be a combination of two separate words: "market" and "span".
The term "market" comes from the Latin word "mercatus", which means a gathering for buying and selling goods. It has further origins in the Latin word "mercari", meaning "to trade". The word later entered Old English as "mearcet" and eventually evolved to "market" as we know it today.
Span, on the other hand, has its roots in Old English as "spann", meaning "distance between the tip of the thumb to the tip of the little finger when the hand is fully extended". Over time, the meaning expanded to refer to any unit of length or measure.
Therefore, when combined together, "marketspan" likely refers to the range or distance of a market, indicating the extent or coverage of a particular market.
