Infiniti Research Highlights 5 Proven Strategies for Effective Market Size Analysis to Help Startups
LONDON--(BUSINESS WIRE)--Nov 20, 2018--Infiniti Research, a world-renowned market intelligence solutions provider, has announced the completion of their latest article on the key strategies for effective market size analysis.
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Strategies to do effective market size analysis for startups. (Graphic: Business Wire)
Market research plays a decisive role in the success of startups. Apart from having a unique product or service and the right human resource, startups need to include market size analysis in their business functions. This helps them in differentiating between the market that is available and the market that needs to be addressed. This differentiation helps in developing a customer-specified product offering. Moreover, market size analysis gives an idea of the trends driving products’ and services’ demand. Market sizing also gives an understanding of the substitute products that could impact the market of your products and services.
“Startups planning to enter a market should be prepared to face heavy competition. With the aid of market size analysis, they will gain a comprehensive view of the market size and will be able to plan their strategies according to the market dynamics,” says a market intelligence expert from Infiniti Research.
Strategies for Market Size Analysis:
Define subsegment of the market
Determining subsegments for the market forms the elementary step of any market size analysis. This gives detailed information about various segments of the market and helps in addressing the needs and demands of each segment separately. Since startups don’t have a large customer base, it becomes vital for them to target these subsegments before expanding their business. To know how market size analysis can help in determining market segments and the growth of businesses,
Conduct top-down market sizing
A top-down analysis is the market approach used for the market size analysis in determining the potential of the total market. After estimating the potential of the market, a company’s share in the market is evaluated. This helps in fabricating strategies according to the market potential and ensures the growth of the business. For more information on the top market size analysis strategies used by companies in estimating market potential,
Administer bottom-up analysis
Potential sales of a business are estimated to determine a total figure of sales. This approach of calculating the total sales figure is termed as bottom-up analysis. It helps in defining the profitability of products, the sales of competitive products, and current sales. Bottom-up analysis usually delivers more precise results. To access the complete list of strategies used for market size analysis,
About Infiniti Research
Established in 2003, is a leading market intelligence company providing smart solutions to address your business challenges. Infiniti Research studies markets in more than 100 countries to help analyze competitive activity, see beyond market disruptions, and develop intelligent business strategies. To know more, visit:
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CONTACT: Infiniti Research
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INDUSTRY KEYWORD: TECHNOLOGY DATA MANAGEMENT SMALL BUSINESS PROFESSIONAL SERVICES CONSULTING COMMUNICATIONS MARKETING
SOURCE: Infiniti Research
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PUB: 11/20/2018 07:15 AM/DISC: 11/20/2018 07:15 AM