To determine the market potential for its particular product or service,a firm should use

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To accurately determine market potential, a firm should use as many measures as possible to obtain a comprehensive understanding of the economic, demographic, and consumer factors that may impact demand for their product or service. GDP data, unemployment data, purchasing power parity data, and inflation data are all potentially useful measures, but they should be analyzed alongside other relevant information such as population demographics, consumer behavior trends, and market competition. By using multiple measures, a firm can gain a more nuanced and accurate view of the potential demand for their offering.

To Determine the Market Potential for Its Particular Product or Service,a