Market Size

The video tutorial explains how to determine the size of a market using various methods. It covers the use of published information, demographic analysis, and competitor data. The tutorial also discusses top-down and bottom-up approaches to market sizing, emphasizing the importance of understanding market transactions and making projections. These methods help in estimating the total number of customers and the dollar value of transactions, aiding in strategic decision-making.

What are some common sources of information for determining market size?

How can demographic characteristics influence market size estimation?

Explain the difference between a top-down approach and a bottoms-up approach in market sizing.

What factors should be considered when estimating the total dollar value of transactions in a market?

Discuss the importance of understanding the potential market when introducing a new product.