A Latent Construct is a variable that cannot be measured directly. Thus, the researcher must capture the variable through questions representing the presence/level of the variable in question. For example, Sales would not be a latent construct because it can be a single number that is objective. However, Customer Satisfaction would be considered a latent construct. To capture such a measure, we might ask a customer questions such as:

How satisfied were you with the price of your experience?

How satisfied were you with the quality of your experience?

How satisfied were you with the service you received?

Etc...