Discover Your Marketing Prowess
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Questions and Answers

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?

  • 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?

  • 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.

    <p>future</p> Signup and view all the answers

    The size of a potential market will help you understand the level of ______ you should make in the market.

    <p>investment</p> Signup and view all the answers

    Here are a few benefits that will justify the importance of potential markets. Minimizes ______ risk.

    <p>investment</p> Signup and view all the answers

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