Market sizing for non-personal usage

Question

When you do market sizing (say for # of dogs in city or # of cars ), let's say you start by estimating the personal use markets (people who own dogs as pets or cars used for personal use since this can be tied to population for easy math)..now once you calculate that and want to factor in non-personal use (eg commercial purpose cars or stray dogs) , can I assume an additional x% (eg 20%) of this population is non-personal use and then just add it in? You could justify with a personal example (like you've seen 2 stray dogs on the street for every 10 pets or something)..Just wondering if there is an easy way to factor in non-personal use without having to size it separately from scratch.

Answer 1

Hi there,

Yes you absolutely can! Now, of course I'm assuming you've done some segmentation etc. for the "personal use" market, but, absolutely you can say "I also have to add in x item and I think it's x% of what I've just calculated".

As long as you provide a logical reason and have showcased your ability to break down estimations already, this is perfectly fine!