A(n)________ is a method for estimating market potential from similar products when data for the specific products do not exist.

Question

Quizplus · Accepted Answer

Analogy is a method where the market potential of a new product is estimated by comparing it to a similar existing product. It assumes that the demand for the new product will be similar to that of the existing product. This method works well when there is no data available for the new product and when the products being compared are similar in nature. It is a useful tool for companies to estimate potential demand for their new products in new or unfamiliar markets.

A(n)________ Is a Method for Estimating Market Potential from Similar