3.3 Market Management Flashcards
1
Q
What is Market Size?
A
The total value or quantity of a specific product or service that can potentially be sold in a defined market during a given period of time, and is often measured in terms of revenue or units.
2
Q
What is Sampling?
A
The process of selecting a subset of individuals or units from a larger population to represent the whole.
3
Q
What is Random Sampling?
A
A Sampling technique where every member o the population has an equal chance of being selected for the sample.
