The Size of the Prize
The ability to accurately size markets and to effectively measure the attractiveness of those markets is a critical business skill that can accelerate successes and help avoid costly mistakes.
The ability to accurately size markets and to effectively measure the attractiveness of those markets is a critical business skill that can accelerate successes and help avoid costly mistakes.
There are many ways in which markets can be sized and assessed including the following:
Sizing approaches include:
Attractiveness criteria might include:
Regardless of which approach is adopted and what criteria are used the analysis should be data driven and all conclusions should be supported by the data.
Sizing approaches include:
- Supply side and demand side analysis
- Top down or bottom up
- Scenario modelling
Attractiveness criteria might include:
- Timing and value of estimated ROI
- Barriers to entry, if any
- Business impact (distraction, opportunity cost, risk)
Regardless of which approach is adopted and what criteria are used the analysis should be data driven and all conclusions should be supported by the data.