Want to make informed decisions? Market sizing research provides you with the essential insights into the size, structure, and growth potential of your target market. It allows you to identify untapped opportunities for growth, prioritise market segments with the greatest potential for success, and inform strategic decision-making and resource allocation.
Some of the benefits of market sizing research includes:
Market sizing will help your business identify the size of the potential market and assess its growth prospects (i.e. Total Addressable Market, Serviceable Addressable Market, and Serviceable Obtainable Market). This information allows you to understand the scale of opportunities available in a particular market and make strategic decisions based on data.
Your target audience in one market could be different in another. Different cultures might feel different about your product or service. By analysing market size, segmentation and other nuances, you can identify your target audience more accurately and ensure you tailor your marketing strategy to meet the specific needs and preferences of the new audience.
Expanding can be costly – especially if you don’t understand your competitive landscape or challenges such as the regulatory environment in other countries. Market research, including market sizing, allows you to assess the potential risks associated with entering a new market, reducing the likelihood of unexpected costs and setbacks.
Market sizing and new market entry research support strategic decision-making by providing data-driven insights. Will your pricing be different? What distribution channels are best suited in the new market and should you be aware of any cultural differences?
If you would like more information on market sizing and new market entry, please book a 30 minute discovery call and we can work through the best options for your business needs.
Let’s connect so we can better understand your desired outcomes, budget and timeline to assess the best research solutions and research specialist to work on your project.
Here we sign off on your project objectives and allocate a Research Client Manager and Research Specialist to work on your project.
Now it’s time to set up for success! We have a 1-hour online meeting with the core team and key internal stakeholders on roles and responsibilities, project milestones and ways of working.
Irina Smolina – Marketing Manager – Lentune
Read Full Case Study
Read Full Case Study
Read Full Case Study
Insights Exchange has a network of over 35+ researchers globally including Australia, USA, UK and South East Asia. Our tech-driven approach and partnerships with fast-growth global research technology companies empower us to provide impactful market insights to businesses globally.
