Understanding Potential Market and Market Potential
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Questions and Answers

What is the potential market?

  • The demographic groups that are currently customers
  • The part of the market that cannot be captured in the future
  • The total population that has shown interest in a product or service (correct)
  • The total demand for a product in a given market

    • What is another term for potential market?

  • Total addressable market (TAM) (correct)
  • Existing market
  • Actual market
  • Target market

    • Which of the following is not part of the potential market?

  • Demographic groups that are currently customers (correct)
  • The total demand for a product in a given market
  • Demographic groups that are not currently customers
  • Demographic groups that could become customers in the future

    • What does market potential refer to?

    <p>The total demand for a product in a given business environment</p> Signup and view all the answers

    Which of the following statements is true about the potential market?

    <p>It includes demographic groups that are not currently customers but could become customers in the future</p> Signup and view all the answers

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