A new business is considering offering three different products to three different segments. Which statement best describes a useful tool to determine which segment to enter first base on sales?
A)the maximum total sales of a product by all firms to a segment under specified environmental conditions and marketing efforts of the firms
B)the sum of products in a particular industry sold domestically under normal economic conditions
C)the total of all products sold nationally
D)the minimum anticipated sales in related industries not including federal, state, and local taxes

Question

Quizplus · Accepted Answer

The tool that best fits the scenario described is market potential, which measures the maximum sales that a product or service can achieve in a particular market segment under given conditions. By using market potential analysis, the business can estimate the revenue that each product could generate in each segment and decide which one to prioritize based on the highest potential. The other options (B, C, and D) do not directly relate to market potential analysis and do not provide relevant information for the decision-making process.

A New Business Is Considering Offering Three Different Products to Three