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Questions and Answers
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 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
- 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
Why is understanding potential markets important?
Why is understanding potential markets important?
- It helps businesses save money on marketing expenses
- It helps businesses identify potential competitors
- It helps businesses increase production costs
- It helps businesses strengthen their position in the market (correct)
What is a potential market?
What is a potential market?
- A market that you can capture in the future (correct)
- A market that you can capture in the present
- A market that is not worth investing in
- A market that you have already captured
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