How to measure the size of a market? Measuring MARKET SIZE by VALUE or VOLUME

#marketsize #marketsegmentation #marketing #marketing
How to calculate the size of a market?
How to measure a market?
How to measure the size of a market?
Measuring market size techniques
Market size can be defined in terms of:
A) Value (Monetary Terms): This is the total revenue that could be generated from the sales of a product or service in a particular market. It is usually measured in currency (e.g., dollars, euros).
B) Volume (Quantity Terms): This is the total number of units of a product or service that could be sold in the market. It is usually measured in units (e.g., number of items, tons, liters).
To calculate the Total Market Size use for:
A) Value: Total Market Size (Value) = Number of Potential Customers × Average Purchase Value
B) Volume: Total Market Size (Volume) = Number of Potential Customers × Average Units Purchased

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