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Estimate Market Size
Posted: Sat Aug 08, 2015 2:12 pm
by Richard
Hello
I want to know how can I estimate the potential target market value and the target market in numbers of inhabitants?.
Thanks a lot
Re: Estimate Market Size
Posted: Sun Aug 09, 2015 8:36 pm
by rick
Well, I suppose that would depend on a few things like type of product or service and the scope or size of the projected market. If you are selling concrete blocks, you are most likely only going to sell them to people within a short driving distance. If selling a digital download or Ebook online, the world is a potential market. That being said, is there someone else that sells a similar product or service? Maybe not a competitor but someone in another location that might be willing to share their results? I think we would need to know more to come up with more specific ideas or steps. Sometimes with a new product you just have to ask some people if they would be interested in your product and then make your best estimated guess at the numbers.