Question

(Total population within Trade Area x Percent of people within target market) / Number of competitors within the trade area

a. SAM
b. TAM
c. TOM
d. SOM

Answer 1

The subject of this question is Business. The formula mentioned in the question is used to calculate the Size of Market (SOM) or Share of Market.

Step-by-step explanation:

The subject of this question is Business. The formula mentioned in the question is used to calculate the Size of Market (SOM) or Share of Market. The SOM represents the proportion of the total market demand that a specific company or product captures. It helps businesses understand their market share relative to their competitors within a specific trade area.