Marketing Concepts

Market Demand for a product is the total volume that would be bought by a defined customer group in a defined geographical area in a defined time period in a defined marketing environment under a defined marketing program.

Marketing Potential is the limit approached by Market demand as industry marketing effort (Expenditures) goes to infinity, for a given environment

Only one of the many possible levels of industry marketing effort (expenditure) will actually occur. The Market Demand corresponding to the expected effort is called the Market Forecast

Company Demand is the Company’s estimated share of market demand at alternative levels of Company’s marketing effort in a given time period.