MANAGEMENT

Detailed explanation-1: -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-2: -There are fundamentally two different approaches to sizing a market: top-down analysis or bottom-up analysis. Ideally, in any market sizing exercise, both of these methodologies should be used to ensure the appropriate reliability of the data and to point out any areas requiring further research for reconciliation.

Detailed explanation-3: -A marketing budget outlines all the money a business intends to spend on marketing-related projects over the quarter or year. Marketing budgets can include expenses such as paid advertising, sponsored web content, new marketing staff, a registered blog domain, and marketing automation software.