Which term represents all existing and potential customers for a product or service?

The term that represents all existing and potential customers for a product or service is referred to as the "market." This concept encompasses every individual or entity that has a need or desire for a product or service, as well as the ability and willingness to purchase it. Understanding the market is crucial for businesses, as it helps them tailor their offerings, marketing strategies, and sales approaches to target specific groups effectively.

In contrast, a niche refers to a smaller segment of the market that has distinct characteristics or needs, often focusing on a specific audience within the larger market. Psychographics involve the study of consumers based on their psychological attributes, such as interests, values, and lifestyles, which provide deeper insights into their behaviors but do not encompass all customers. A mission statement is a formal summary of the aims and values of a company or organization, and while it is important for guiding a business's vision and strategy, it does not refer to a group of customers. Therefore, the most accurate term to describe the entirety of existing and potential customers is "market."