Your marketing plan may need an estimate of the size of the market potential or industry potential
Question:
Your marketing plan may need an estimate of the size of the market potential or industry potential (see Chapter 8) for a particular product-market in which you compete. Use these steps:
1. Define the product-market precisely, such as ice cream.
2. Visit the NAICS website at www.census.gov.
3. Click “NAICS” and enter a keyword that describes your product-market (e.g., ice cream).
4. Follow the instructions to find the specific NAICS code and economic census data that detail the dollar sales and provide the estimate of market or industry potential.
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