The First Step in the Screening Process for Potential Markets

question 92

Multiple Choice

The first step in the screening process for potential markets and sites is to ________.

• A) select a favorable market or site
• B) measure the market or site potential
• C) identify the basic appeal of a market
• D) assess the national business environment

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Definitions:

Market Potential

The maximum total sales volume that could be achieved by all competitors in a specified market over a given time period.

National Science Foundation

A United States government agency that supports fundamental research and education in all the non-medical fields of science and engineering.

Noncompetitive Proposal

A proposal with no real competition and hence a high probability of acceptance.

Competitive Proposal

A proposal that has to compete for limited resources.