Final answer:
People fitting the description of current customers but not being served represent an untapped market, often characterized as out of the labor force when it comes to employment. Businesses recognizing this can expand their market share through targeted strategies. College graduates looking for work after study are considered actively unemployed.
Step-by-step explanation:
People who fit the description of current customers but who are not being served are often referred to as a market opportunity or an untapped market. This notion highlights the existence of potential consumers who share characteristics with a business’s current customer base but, for various reasons, have not yet been reached by the company's marketing efforts or product offerings. Essentially, these individuals are under-served by current market offerings.
For instance, in the labor market context, the term out of the labor force is used to describe people who are not working and not actively looking for work. This includes those who might want employment but have ceased searching due to various factors such as discouragement, or those occupied with other responsibilities like looking after children or being retired. When considering recent college graduates who begin searching for employment, they transition from being 'out of the labor force' to being counted as actively unemployed.
Understanding and identifying this segment of potential but currently inactive customers can be crucial for businesses aiming to expand their reach and increase their market share. Tapping into this group requires targeted marketing strategies and possibly adapting offerings to meet their specific needs or circumstances.