Forecasting the potential for new industrial products

David L. Kendall, Michael T. French

Research output: Contribution to journalArticle

Abstract

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 languageEnglish (US)
Pages (from-to)40-44
Number of pages5
JournalIEEE Engineering Management Review
Volume21
Issue number4
StatePublished - Dec 1 1993
Externally publishedYes

ASJC Scopus subject areas

  • Strategy and Management
  • Electrical and Electronic Engineering

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