What Describes and Estimates the Size and Sales Potential of Market

question 163

Multiple Choice

What describes and estimates the size and sales potential of market segments of interest to the firm,and assesses key competitors in these market segments?

• A) market opportunity analysis
• B) environmental scan
• C) marketing mix audit
• D) target market strategy

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Definitions:

Market Pay Line

A graphical line in a compensation analysis showing the relationship between the job's importance or level and the average market pay rate for that job.

"Goodness Of Fit"

A statistical measure that evaluates how well a model or hypothesis matches observed data or outcomes.

Pay Range

The spectrum of wages set by an organization for a specific job or role, establishing the minimum and maximum salary for positions.

Pay Grade

A classification system that determines the level of compensation for jobs based on their responsibilities, complexity, and required qualifications.