ENTREPRENEURIAL OPPORTUNITIES
MARKET RESEARCH
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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What is the formula for Market size?
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Sales of one firm/Total market sales x 100
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Number of units sold x price
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change in size of market / original size x 100
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None of the above
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Explanation:
Detailed explanation-1: -Your “market size” is the total number of likely buyers of your product or service within a given market. This information can be particularly useful to businesses and entreprenuers looking to invest in new products.
Detailed explanation-2: -How to Calculate Market Share. Find your business’s total sales revenue for your preferred period and divide that number by your industry’s total revenue during the same period. Once you have this result, multiply the number by 100 to generate your market share percentage.
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