To determine the market potential for its particular product or service,a firm should use
A) GDP data.
B) unemployment data.
C) purchasing power parity data.
D) inflation data.
E) as many metrics as it can obtain.

Question

Quizplus · Accepted Answer

To determine the market potential for a particular product or service, a firm should not rely on a single metric. Instead, it should use as many metrics as it can obtain to get a complete understanding of the market. GDP, unemployment, purchasing power parity, and inflation data are all relevant metrics, but there may be other metrics that are specific to the product or service being offered. By using multiple metrics, the firm can more accurately assess the size and characteristics of its target market, as well as identify any potential obstacles or opportunities for growth.

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