The total volume of a product, for all firms in an industry, that would be purchased by specific customer groups within a specified time period at a given level of industry-wide marketing activity, is the
A) competitor sales potential.
B) sales objective.
C) forecasted sales.
D) company sales potential.
E) market potential.

Question

Quizplus · Accepted Answer

The description given in the question is that of market potential, which refers to the total volume of a product or service that could be sold by all firms in a particular industry to a specific customer segment within a specified period of time, assuming a certain level of marketing efforts. Thus, the best choice is E, market potential. Choices A, B, C, and D are all related to specific sales goals, forecasts, or estimations for a particular company or its competitors, whereas market potential pertains to the entire industry rather than a single firm.

The Total Volume of a Product, for All Firms in an Industry