Forecasting market demand
It’s better to have the wind at your back than in your face.
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How big is the market your firm is addressing? What factors have been influencing demand growth? How are these factors changing? By how much will demand grow in the future? What are the risks?
These are the questions you need answers to. And you need to answer them for each of your main business segments – those you have already identified.
Sizing the market
Size is important.
Without market size you may find it hard to gauge market demand growth. And you certainly will not know market share. Without market share, it is hard to judge competitive position. Then you may find it hard to draw up a winning strategy.
The larger your company, the ...
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