To Determine the Market Potential for Its Particular Product or Service,a

question 24

Multiple Choice

To determine the market potential for its particular product or service,a firm should use

• A) GDP data.
• B) unemployment data.
• C) purchasing power parity data.
• D) inflation data.
• E) as many metrics as it can obtain.

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Definitions:

Self-actualization

Self-actualization is the realization or fulfillment of one's talents and potentialities, considered as a drive or need present in everyone.

Abraham Maslow

An American psychologist best known for creating Maslow's hierarchy of needs, a theory of psychological health predicated on fulfilling innate human needs.

Sensation Seeker

Someone who needs more arousal than the average person.

Arousal

A physiological and psychological state of being awake or reactive to stimuli, often associated with increased cognitive activity and physical readiness.