A complete statement of an industry's market potential must include which of the following elements?

Question

Quizplus · Accepted Answer

An estimate of the maximum possible sales of a commodity or service is a key element in understanding an industry's market potential. This helps businesses gauge the potential revenue they can generate from a particular market. The other options, such as listing all potential customers or including territorial assignments, may be important in developing a marketing strategy, but they are not essential components of a market potential statement. An assessment of potential competitors may be relevant but is not as crucial as estimating the maximum possible sales. Historical trends can be useful in predicting future sales, but they are not necessary for developing a statement of market potential.

A Complete Statement of an Industry's Market Potential Must Include