Hello! I was wondering how you would tackle this question. I considered only businesses that use plastic bags, but I do not think that is inclusive enough.
Sounds good, I will practice with this method again. Thank you!
(edited)
Hello! I was wondering how you would tackle this question. I considered only businesses that use plastic bags, but I do not think that is inclusive enough.
Hi!
I would go from the consumer perspective:
Hope this helps! If you want to brainstorm more on this feel free to reach out!
Best,
Daniel
(edited)
Hello!
I would first of all clarify demand from which segments (e.g., consumers, companies, etc.)
If, for instance, was for consumers, you can try to extrapolate the # of bags you use weekly:
Once you have the number, you can extrapolate to different age groups (e.g., babies and childen won´t barely use any, very elderly people will use less, etc.)
Cheers,
Clara
Sounds good, I will practice with this method again. Thank you!
(edited)
Hi,
I would suggest that you should present your own approach and I would be happy to review.
Meanwhile please see below my approach to segmentation in market sizing as well as examples of solved cases:
B2C:
-Demographics (Age, education, income, family size, race, gender, occupation, nationality)
-Behavioral (Purchasing behavior, customer journey stage, occasion & timing,
customer loyalty & interest, risk tolerance, user status)
-Psychographic (Lifestyle, personality traits, values, opinions, interests of consumers)
-Geographic (Geographical boundaries)
B2B:
-Company characteristics (Industry, company size, number of employees)
-Geography (Geographical boundaries)
-Purchasing Approach (Occasion & timing, customer capabilities, nature of existing relationship)
-Personal Characteristics (Loyalty, risk attitude, user status)
B2G:
-Demographics (Type of agency, size of budget, the amount of autonomy)
-Geographic (Geographical boundaries)
-Government Tier (Federal , State, Local, Quasi-governmental, International)
-Bid type (Closed, Open)
But sometimes you don’t need to segmentation. Here is an example of case that could be solved with high level top down approach - estimate the size of credit card market in the US:
https://www.preplounge.com/en/consulting-forum/how-should-i-approach-the-following-question-estimate-the-market-size-of-credit-cards-in-the-us-6695
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