Estimating Online Market Size

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ESTIMATING MARKET SIZE

Leslie Walsh of PA Consultants examines some of the problems of estimating industrial market size and gives practical advice on sources, limitations and cross-checking.

Your managing director leans forward earnestly: "You do under-stand. We don't want an expensive job. Just do some quick research and tell us the size of the market and other such basic essentials. That's all we want."

The industrial market researcher has long ago learnt to accept such a remark with stoic patience. In his experience, requests of this nature are not unusual. So many competent and successful industrial executives - even marketing executives - seem to have a blind spot when it comes to estimating market size. They fail to understand just how difficult and expensive it can sometimes be.

Let us leave aside for the moment the question of whether market size is a "basic essential" - except to say that it sometimes is not - and examine the various methods of assessing the size of industrial markets.


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