25. Forecasting Demand
A marketing plan must include a forecast of the market opportunity size, which is the estimated number of potential buyers of your products and services. From this, the addressable market size is estimated by analyzing who is available to purchase the product, has the means to do so, and has access to your products. This number will be a more conservative subset of the market size. From this, the company must decide what portion of the market it will penetrate. For example, if a new snack product will be launched by a company, it probably won’t launch in all markets at once. The company would select a few test markets to roll out first. The target market number would be projected from the addressable market.
New markets ...
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