Question

A lot of estimates go into the final calculation to determine market size, and each component needs to be as precise as possible. Otherwise, the errors in the estimation get compounded.

Answer 1

True, A  lot of estimates go into the final calculation to determine market size, and each component needs to be as precise as possible. Otherwise, the errors in the estimation get compounded.

What does market size actually mean?

• The total number of prospective customers for a good or service inside a certain market, along with the potential revenue from those sales, make up the "market size."
• For a number of reasons, it's critical to determine and comprehend market size.

What is an example of market size?

• For instance, a shoe company might find 100,000 people who are interested in its product, but data on income and accessibility reveals that only half of them have the resources to make a purchase.
• The market that is open in that situation has 50,000 potential customers.

Learn more about market size

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