Hi - I'm wondering about whether my way of calculating market size would be valid on this.
I recieved table one outlining the density, lube consumption and competition which of course has the gap for Germany. I estimated 80 million population and 40 million cars so a car density of 500. All straight forward here.
But then to calculate the market size, I multiplied car density by lube consumption getting 1500/1200/1500 across the bottom of the table and then noted that Turkey is significantly bigger than Germany in population and therefore it has a bigger market. I did not quantify the size of the market at this point (which would be useful for later on in the case probably?) but I did reach the conclusion that Turkey was the favoured market via this route - any problems with this method or things I should be aware of?
Thanks for reading and shoot me a message if you want to practice a case too.