Market Appraisal

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Market Oriented Appraisal:

      Before the production actually starts, the entrepreneur needs to anticipate the possible market for the product. He has to anticipate who will be the possible customers for his product & where & when his product will be sold.. The survival  of  any business depends upon its earning capacity which in turn depends on the volume of sales. Marketing is the only activity which brings revenue while all other activities involve expenditures      

       The anticipated market for the proposed product can be estimated by any one of the following methods;

  1. Opinion Polling Method-

a) Complete Enumeration Survey-

b) Sample Survey-

c) Sales Experience Method-

d) Vicious Method-

 

  1. Life Cycle Segmentation Analysis:

      That is estimating the sales of a product at various stages of its life cycle like introduction, growth, maturity, saturation & decline. Every product passes through its life cycle. Thus, firms go for new products one after another to keep the firm alive.

 

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