Which of the following describes and estimates the size and sales potential of market segments of interest to the firm and assesses key competitors in these market segments?

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Market opportunity analysis is the process through which a firm identifies and evaluates potential market segments, estimating the size and sales potential of each. This process also includes assessing key competitors in these market segments, allowing the firm to make informed decisions about which segments to target and how to position itself against its competition. Environmental scan refers to the process of examining the broader macro-environmental factors that might affect a firm's operations, while marketing mix audit involves evaluating a firm's marketing efforts in terms of its product, price, promotion, and distribution strategies. Target market strategy is the action plan developed by a firm to identify and pursue a specific target market.

Which of the Following Describes and Estimates the Size and Sales