A key choice in any business strategy is 'where to play'. This understanding the market that the business chooses to compete in with a clear understanding of key customer, geographies, products, growth, value, competitors and shares etc.
A fundamental requirement for any market assessment is the ability to 'size' the market to help a business understand and make choices on the dynamics and drivers mentioned before.
Market sizing is an art – being a mixture of hard data and subjective inputs and having a clear methodology is an essential requirement to ensure these elements are managed correctly.
This powerpoint document is a Market Sizing 101 for those interested in developing a basic framework and methodology to build their skills upon.
This document delves into the objectives of market sizing, providing a structured approach to gathering and validating data from various sources such as industry reports, competitor data, and client financials. It emphasizes the importance of conducting thorough interviews to ensure the accuracy and reliability of the data collected. The step-by-step methodology outlined in this presentation ensures that all relevant segments, time periods, and data details are meticulously considered.
The framework presented in this document guides you through the process of building and structuring a market model, using real-world examples to illustrate key concepts. It covers essential aspects like market volume, retail sales value, wholesale value, and market profit, ensuring a comprehensive understanding of the market landscape. The document also highlights the significance of reviewing and validating data sources to maintain the integrity of the market model.
By following the detailed steps and best practices outlined, executives can make informed decisions based on robust market assessments. This document is an invaluable resource for those looking to enhance their market sizing capabilities and drive strategic growth initiatives.
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Source: Best Practices in Market Research PowerPoint Slides: Building a Market Model and Market Sizing PowerPoint (PPTX) Presentation Slide Deck, STRATICX
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