Which of the following best describes the process of market sizing?
A)estimating how much of your product or service should be produced or released based on a particular customer base and revenue potential
B)estimating the number of potential customers and possible revenue or profitability of a product or service
C)estimating the growth potential for a particular customer base and the future lifespan of the product or service in that market
D)determining the net value that a customer base is willing to put into your specific product or service

Question

Quizplus · Accepted Answer

Market sizing is the process of estimating the potential size of a market for a particular product or service. It involves researching and analyzing the target customer base to determine the number of potential customers who could purchase the product or service and the potential revenue or profitability based on various factors such as pricing, competition, and distribution channels. Option B best describes this process.

Which of the Following Best Describes the Process of Market