Question

A market opportunity is viable and attractive if:

A. The firm has the marketing communications skills needed to reach that market
B. There are enough potential customers in that market for the needed product so that the total potential sales volume will be substantial
C. The opportunity is consistent with the mission and objectives of the company
D. The firm has the financial and human resources needed to reach that market
E. All of the above conditions are met

Answer 1

A market opportunity is viable and attractive if the firm has the necessary marketing skills, a substantial customer base, alignment with company goals, and adequate resources. These conditions mirror the ideal market environment of perfect competition, though real-world markets often rely on advertising for differentiation and increased demand.

Step-by-step explanation:

A market opportunity is considered viable and attractive if it meets several conditions that align with the principles of an ideal market environment, such as that found in perfect competition. These conditions include:

• The firm has the marketing communications skills necessary to effectively reach the market.
• The market has a sufficient number of potential customers and the total potential sales volume is substantial.
• The opportunity aligns with the mission and objectives of the company.
• The firm possesses the necessary financial and human resources to tap into the market.

All of these conditions must be satisfied for an opportunity to be deemed attractive and viable for a company. In perfect competition, firms operate under ideal conditions including many sellers and buyers, identical products, informed parties, and free market entry and exit. However, in actual markets where conditions are less ideal, advertising can differentiate products and increase demand, although this moves away from the perfect competition model.