The first step in the breakdown approach is developing a general economic forecast for a specific time period. Which of the following is the second step?
A) Estimating market potential based on this forecast
B) Estimating how much of a product a potential buyer in a specific geographic area will purchase
C) Conducting a competitive assessment based on this forecast
D) Determining the cost estimates involved
E) Analyzing historical sales data for trends

Question

Quizplus · Accepted Answer

Once the general economic forecast is developed, the next step is to estimate the market potential based on that forecast. This involves analyzing factors such as population demographics, income levels, and consumer trends to determine the potential size of the market for a particular product or service.

The First Step in the Breakdown Approach Is Developing a General