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What are the three forms that potential markets can take?
What are the three forms that potential markets can take?
- New products you market to your existing consumers, new products you market to new consumers, current products you market to new consumers (correct)
- New products you market to your competitors, new products you market to your existing consumers, current products you market to new consumers
- New products you market to your existing consumers, new products you market to your competitors, current products you market to new consumers
- New products you market to your competitors, new products you market to new consumers, current products you market to your existing consumers
Why is understanding potential markets important?
Why is understanding potential markets important?
- It helps businesses save money on marketing expenses
- It helps businesses increase production costs
- It helps businesses strengthen their position in the market (correct)
- It helps businesses identify potential competitors
What is a potential market?
What is a potential market?
- A market that you have already captured
- A market that is not worth investing in
- A market that you can capture in the present
- A market that you can capture in the future (correct)
A potential market is a part of the market that you can capture in the ______. It includes the demographic groups that are not your customers.
A potential market is a part of the market that you can capture in the ______. It includes the demographic groups that are not your customers.
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The size of a potential market will help you understand the level of ______ you should make in the market.
The size of a potential market will help you understand the level of ______ you should make in the market.
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Here are a few benefits that will justify the importance of potential markets. Minimizes ______ risk.
Here are a few benefits that will justify the importance of potential markets. Minimizes ______ risk.
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