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These are sample practice MCQs created for exam preparation. These are NOT official exam questions.

MARKET RESEARCH: A company analyzes its market position. What is the market penetration rate in Region X? (1) The company has 15,400 customers in Region X where total addressable market is 220,000 potential customers (2) Market share in Region X is 7% and total regional market is 220,000 customers

GMAT · 2022 · Data Insights
Question:
MARKET RESEARCH: A company analyzes its market position. What is the market penetration rate in Region X? (1) The company has 15,400 customers in Region X where total addressable market is 220,000 potential customers (2) Market share in Region X is 7% and total regional market is 220,000 customers

Options

(A) Statement (1) ALONE is sufficient, but statement (2) alone is not sufficient
(B) Statement (2) ALONE is sufficient, but statement (1) alone is not sufficient
(C) BOTH statements TOGETHER are sufficient, but NEITHER statement ALONE is sufficient
(D) EACH statement ALONE is sufficient
(E) Statements (1) and (2) TOGETHER are NOT sufficient
Answer: (D) EACH statement ALONE is sufficient

Explanation:
Statement (1): Penetration rate = 15,400/220,000 = 7%. Sufficient. Statement (2): Market share = penetration rate = 7%. Sufficient.

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