A vice-president of a shoe company was in India to assess the market.He found that many people in the southern part of India were walking bare footed.This can be indicative of either the fact that there is a potential market for shoes or there is no market for shoes in that part of the world.To formally confirm one instinct or the other the vice-president should:

Question

Quizplus · Accepted Answer

Conducting research to find the potential and actual customers is the best choice as it provides a systematic and data-driven approach to understanding the market. This will help to determine the size of the potential market, the needs of the customers, and the competition that exists. This information can then be used to develop a strategy for entering the market with the most appropriate products and marketing approach. The other options are not as effective as they either assume that there is a market simply because people are not wearing shoes or are too simplistic in their approach to market research.

A Vice-President of a Shoe Company Was in India to Assess