Organization: Imports and Market Potential
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1. Do a country's imports completely measure the market potential for a product? why or why not?
2. Additionally what other criteria that could be used to measure a markets potential?
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This solution briefly discusses whether or not a country's imports completely measure the market potential for a product, including why or why not. It also explains the other criteria that could be used to measure a markets potential.
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1. Do a country's imports completely measure the market potential for a product? Why or why not?
A country's imports are only one measure to start the analysis of the market for demand of a product. It does not measure products that are made domestically or products supplied by the black market. As well, using a country's imports measure may not tap into the potential demand and may not identify potential issues impacting demand such as poor marketing, high pricing, or inferior product/ product range (I.e. the demand for MP3 player rocketed after the release of the iPod which packaged the same technology in a new way), which need other ...
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