What is the formula for market size?

It is the highest price that a willing customer will pay for a good/service and the lowest price that the willing seller will sell.

It is a market size by sales volume measures the amount of good sold by quantity.

Companies are interested to know this before launching a new product or service in an area.

It is the number of individuals in a certain market segment who are potential buyer.

It is calculated by taking away the company’s sales over the period and dividing it by the total sales of the industry.

It is a place or process which allows buyers and sellers to meet and exchange goods, service and information.

These are the named and unnamed needs of your customer.

Knowing your customer needs you must;

Thinking of your business, investor needs to identify it first before starting the business

Which of the following products is tangible?

Which of the following products is not belong in merchandise?

It is defined as a things produced by labor or effort or the result of an act or a process.

Which of the following products is not belong in manufacturing?

It is non-material action resulting in a measurable change of state cause by the provider.

These are any creation of the intellect that has commercial value.

It is a products or goods that does not have physical nature

It is physical object that can be perceived by touch.

An Entrepreneurial mind that change new knowledge into something very useful and working product.

An Entrepreneurial mind that thinks about and designs a product.

A business owned by at least 15 individuals called members

A business that is owned by only one person.

The management of this single business is shared by two or more persons.

A business that could be classified in more than one type of business

The business where owners are called shareholders.

Grocery stores, convenience stores, and ice cream vendors

Bakeshops, furniture shops, and siopao factories.

An elements of marketing mix that refers to the value that is put for a product.

An elements of marketing mix that refers to the methods a business uses to gain the attention of the customers to their product

Dental clinics, repair shops, and schools.