- To deterimine the market size start with the overall population and then:
- Estimate the percent of potential buyers within that population.
- Income distribution may help estimating this.
- Look at numbers that suggest how much the population spends on your type of product.
- Per capita GNP may help in estimating this.
- Identify if there are domestic or international competitors already providing a similar product.
- Determine the price your competitors are charging.
- Compare your product's price and quality against the competition.
- Information needed to determine the size of a particular market includes:
- Total GNP
- Per capita GNP
- Rate of investment
- Local production of your product
© 2004 John Michael Pierobon