Industrial marketing managers base new-product decisions and marketing strategy on estimates of market potential. They often evaluate current product sales, market share, and market penetration, using some forecast of market potential as a benchmark. For maximum benefit to marketers, the concept of market potential should be clear, consistent, and highly operational. This paper discusses a life-cycle concept of market potential. A simple descriptive model shows how the concept relates to other marketing concepts and how it can be used operationally.
|Original language||English (US)|
|Number of pages||5|
|Journal||IEEE Engineering Management Review|
|State||Published - Dec 1993|
ASJC Scopus subject areas
- Strategy and Management
- Electrical and Electronic Engineering