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QUARTER-1-WEEK-4-MODULE-4-ENTREP.pptm - QUARTER 1 WEEK 4...

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QUARTER 1 WEEK 4 MODULE 4
LOOKING BACK TO YOUR LESSONA Market is a place where two parties can gather to facilitate theexchange of goods and services.A potential market is the part of the market you can capture in thefuture. It includes the demographic groups that are not currently yourcustomers but could become customers in the future (Lake, L, 2019).The size of a potential market helps a company understand the level ofinvestment it should make further in the market, while taking intoconsideration other factors.The market now demands that your business align to their needs. Inorder to properly align your marketing efforts ‒ and your content, inparticular ‒ to what buyers need, you have to have a clearunderstanding of the many intricacies, pains and pressures within yourmarket.
DIRECTIONS: Read and analyze the statements below. Determine whether thestatement is TRUE OR FALSE. Write TRUE if the statement is correct and writeFALSE if otherwise. Write your answer in the space provided._____________1. Penetrated Market is a set of customers or clients who are already usinga particular product or service._____________2. Available market refers to a group of potential customers to whom acompany wants to sell its products and services._____________3. Target market users are people who have not yet purchased your productbut are considering it._____________4. Need is a motivating force that compels action for its satisfaction._____________5. Existing customers are people who have already purchased your product._____________6. To know the demographic information that people have in common is away of reaching a potential market._____________7. To determine the potential market is not helpful for business futuregrowth._____________8. Asking what related products will customers need in the future is helpfulin identifying potential markets._____________9. Customer is a person or organization that uses a commodity or service.

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Term
Fall
Professor
NoProfessor
Tags
Marketing, Product and Service, c Product innovation

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