What Is the First Step a Marketer Should Take to Estimate

question 118

Multiple Choice

What is the first step a marketer should take to estimate a product's potential sales?

• A) determine maximum production levels
• B) conduct a survey of buyers' intentions
• C) estimate total demand for the product in the market
• D) determine how to expand market share
• E) predict the company's market share

---

Definitions:

Private Goods

Products or services that are consumed by one individual and cannot be used simultaneously by others.

Rival in Consumption

A characteristic of a good whereby its consumption by one individual prevents simultaneous consumption by another individual.

Excludable

A characteristic of a good or service whereby it is possible to prevent non-paying customers from having access to it.

Concerts

Live performances of music before an audience, ranging from solo performances to ensemble or orchestral presentations.