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Questions and Answers
Which term is used to describe the groups of individuals or organizations that make up the pool of actual and potential customers for their goods and services?
Which term is used to describe the groups of individuals or organizations that make up the pool of actual and potential customers for their goods and services?
- Potential market
- Total addressable market
- Market potential
- Market (correct)
What is the part of the total population that has shown some level of interest in buying a particular product or service called?
What is the part of the total population that has shown some level of interest in buying a particular product or service called?
- Total addressable market
- Potential market (correct)
- Market potential
- Market
What does market potential refer to?
What does market potential refer to?
- The demographic groups that are not currently customers
- The part of the market that can be captured in the future
- The total demand for a product in a given business environment (correct)
- The future growth potential of a business
Why are potential markets important for a business's future growth?
Why are potential markets important for a business's future growth?
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What is the part of the market that a business can capture in the future called?
What is the part of the market that a business can capture in the future called?
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