ENTREPRENEURSHIP

Detailed explanation-1: -Alexa defines market size as “the number of individuals in a certain market segment who are potential buyers.” More technically, it’s the total number of potential customers or sales in a given period (usually a year) or the total potential revenues you can reach in that time.

Detailed explanation-2: -What Is Market Sizing? The “market size” is made up of the total number of potential buyers of a product or service within a given market, and the total revenue that these sales may generate.

Detailed explanation-3: -Market size refers to the total number of potential buyers for a product or service and the potential revenue reach based on that population size. Market sizing is the process of calculating these numbers to accurately measure your business’ growth potential.

Detailed explanation-4: -Market Size: Research demographic statistics to find the population number of your segment. For example, if the market segment is U.S. college students, the market size is 20 million as research shows there are 20 million college students in the U.S.

Detailed explanation-5: -Which of the following is true of market segmentation? It helps firms design specific marketing strategies suited for specific market segments.