Market Sizing

To  realize the optimum profit potential of your products and services you need to know the size and characteristics of your potential markets and understand what trends are shaping the development of those markets which assists in prioritizing the opportunities.

A market sizing study forms part of your overall market analysis – which in turn forms the basis for your marketing plan.  Establishing the size then shape, characteristics, and direction of a targeted market enable you to: Continue reading Market Sizing

Identify your Target Market

Firstly  write down and agree the ultimate objectives of your target market plan. For example they could be any or all of the following or something else:

  • increasing your sales
  • increasing your market share
  • increasing your brand awareness
  • raising your company profile
  • achieving competitive advantage.

With the focus on your marketing objectives then ensure you understand the needs of the target market. Identify Continue reading Identify your Target Market