What Is the First Step a Marketer Should Take to Estimate

question 133

Multiple Choice

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

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

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Definitions:

Budgeting

A financial planning process whereby individuals or entities estimate their expected incomes and expenditures over a defined period.

Activity Variance

Activity variance calculates the difference between the planned quantity of activity and the actual quantity, analyzing the impact on costs and operational efficiency.

Direct Labor

The wages and benefits paid for the labor directly involved in the production of goods or services.

Budgeting

The method of devising a strategy for allocating your finances, detailing an entity's economic and functional objectives.