Company ABC is attempting to project the growth rate for a new product market. In order to project the growth rate, the firm will first need to .
A) create the product
B) size the market
C) promote the product
D) estimate costs

Question

Quizplus · Accepted Answer

Before projecting the growth rate for a new product market, the firm needs to determine the size of the market. This helps to estimate potential demand and determine the feasibility of the product in the market. Creating the product, promoting it, and estimating costs are all important steps, but they come after sizing the market.

Company ABC Is Attempting to Project the Growth Rate for a New