The market potential for a product may best be defined as:
A)Our expected company sales of that product during next year.
B)Our company's share of the market for that product.
C)Being synonymous with sales potential.
D)The expected total industry sales of the product in a given market during a stated period of time.
E)A market index.

Question

Quizplus · Accepted Answer

The market potential for a product refers to the expected total industry sales of the product in a given market during a stated period of time. It does not specifically refer to a company's expected sales or share of the market, making options A and B incorrect. While market potential may be related to sales potential, they are not synonymous, making option C incorrect. Finally, a market index is a measure of a particular market or industry, but it is not necessarily equivalent to market potential, making option E incorrect.

The Market Potential for a Product May Best Be Defined