Market saturation occurs when a product has become so common in a market that the rate of sales velocity slows down, and there are limited new customer bases available to tap into. It is often achieved by abundant physical presence, prolific advertising, or widespread consumer acceptance.
Non-purchased goodwill, also known as inherent goodwill, is the value of a company's brand, customer base, employee relations, and other intangible elements that are not acquired through purchase.
A trade area, also known as a market area, is the geographic region from which a business draws its customers. Understanding trade areas helps businesses determine the potential demand for their products or services and informs decisions on location and marketing strategies.
