A market consists of actual and potential buyers of a product or service rather than a physical location. The document discusses mission statements, which state an organization's purpose and relate to the value offering provided to customers. It provides examples of mission statements, such as the Girl Scouts focusing on building character and skills for girls through fun and enriching experiences in an accepting environment. Bowling Green State University's intramural program aims to offer regular recreational sports to allow participants to develop leadership and other real-world skills.