General Electric Corp calculates that the total number of light bulbs sold to consumers in the next year by all light bulb producers is 1 billion, given anticipated marketing efforts by the firms involved. This figure represents the industry's:
A) sales potential.
B) market potential.
C) target growth rate.
D) sales forecast.
E) sales objective.

Question

Quizplus · Accepted Answer

Market potential refers to the maximum total sales of a product by all firms in a market under ideal conditions, such as full market coverage and optimal marketing efforts. The 1 billion light bulbs figure represents the industry's market potential.

General Electric Corp Calculates That the Total Number of Light