A graph in which the height of a bar indicates the frequency with ...

[lilldybug07]

A graph in which the height of a bar indicates the frequency with which that category occurred is called a(n) ___________________ _.
 Fill in the blank(s) with correct word

Question 2

How do marketers estimate the size of a market? Explain.

[Bigfoot1984]

Answer to Question 1

histogram

Answer to Question 2

Market sizing isn't difficult. Good demographic data exist for consumers and businesses, and for U.S. and international markets. The logic in market sizing estimation is always the same. Marketers begin with the total population and break it down into the proportions that are relevant, regardless of whether they are B2B or B2C marketers. One way marketers have approached this analysis is by estimating the purchase decision-making processthe elements of awareness, trial, repeat, etc. For example, the first cut would be to take the total population and multiply it by the percentage of these customers who are aware of our brand, and compute: population  aware.
Next, we ask what proportion of customers has tried our brand. Then, ask how are we doing with regard to repeat purchasers. So far, this logic looks like the following string of proportions: population  aware  trial  repeat.
Drilling down further, how much does each customer tends to buy? When do they buy? Then the analysis is (population  aware  trial  repeat)  per annum purchase.
Translating this per customer annual consumption into dollars is easy. Just multiply the number by the average retail price paid by customers.