Answered: How would the sizes of the potential…

How would the sizes of the potential market, available market, qualified available market, and served market vary for a business/organization?

Purchasing and Supply Chain Management

6th Edition

ISBN:9781285869681

Author:Robert M. Monczka, Robert B. Handfield, Larry C. Giunipero, James L. Patterson

Publisher:Robert M. Monczka, Robert B. Handfield, Larry C. Giunipero, James L. Patterson

Chapter6: Category Strategy Development

Section: Chapter Questions

Problem 1DQ

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Concept explainers

Buying

Buying is the activity that involves acquiring something of value in exchange for an asset. The acquisition could be goods or/and services. During the buying process, the exchange of value takes place between two or more parties. For instance, if you are offered a present from your relative, it can not be termed “buying” as value exchange is only from one side. Therefore, any form of gifting is not considered buying. The most common medium of exchange to facilitate buying is currency.

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How would the sizes of the potential market, available market, qualified available market, and served market vary for a business/organization?

What are some limitations of the NAICS (North American Industry Classification System) categorization scheme?

Under what circumstances is believed that the top-down market sizing approach would be more accurate? What about the bottom-up approach?

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