A business can accurately identify its market size by first defining its target customer segment. This involves understanding the needs and behaviors of potential customers. Once the target customers are identified, the business can then identify the underserved needs within this segment. The market size can then be measured in terms of the number of customers or total revenue generated. It's also important to consider both existing and potential customers when determining market size.
Why do so many products fail? It's not because they are built or marketed poorly, but because they d...
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