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Market Potential of a Product: Definition & Analysis Example

Instructions:

Choose an answer and hit 'next'. You will receive your score and answers at the end.

question 1 of 3

Which one of the following is the best explanation of market potential?

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1. What type of data is collect when researching market potential?

2. If you are examining the demographics of households in the geographical area in which you intend to introduce your product, which component of market potential are you examining?

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About This Quiz & Worksheet

This quiz/worksheet combo can help you assess your knowledge of market potential and formulas used to calculate it. Some things you'll need to know to pass the quiz include what market potential means and the analysis needed to determine potential.

Quiz & Worksheet Goals

This quiz/worksheet combo can help you review:

  • Definition of market potential
  • Data used in market potential research
  • Types of analysis used to determine market potential

Skills Practiced

This quiz/worksheet combo can help you practice the following skills:

  • Reading comprehension - ensure that you draw the most important information from the related business lesson
  • Interpreting information - verify that you can read information regarding the role of data in market potential research
  • Knowledge application - use your knowledge to answer questions about the process of determining a product's market potential

Additional Learning

To learn more about this business concept, take a look at the lesson called Market Potential of a Product: Definition & Analysis Example. This lesson will help you:

  • Find the market potential
  • Define market potential
  • Compare and contrast primary and secondary data
  • Determine how to analyze the competition
  • Identify customer base
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