Suppose a cotton-textile company wants to estimate the area market potential for its high quality fabrics in Houston. List the possible steps that the marketers will follow to compute the area market potential
What will be an ideal response?
The marketers may follow the following steps: Identify all the potential buyers of textile in the area, primarily the firms manufacturing readymade garments in that area. In order to do that, the company may compile a list from a directory of all manufacturing establishments in the area. Then it can estimate the quantity of fabrics each firm might purchase to produce garments worth $1 million. Compiling the quantity required by each of the firms, the marketers can estimate the area market potential of the fabric produced by the textile company.
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Indicate whether the statement is true or false