The North American Industry Classification System (NAICS) data can be used to:
a. identify scope for new product lines.
b. determine purchase motives of customers.
c. classify consumer behavior.
d. identify potential new customers.
ANSWER: d
The North American Industry Classification System (NAICS) is a valuable tool for business marketers engaged in analyzing, segmenting, and targeting markets. The information derived can be converted to market potential estimates, market share estimates, and sales forecasts. It can also be used to identify potential new customers.
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