How would u approach this ?
How would u approach this ?
Hi Anonymous,
High Level approach:
1. Segment Automobile market
2. Estimate size of each segment (use drivers such as population/households, etc.)
3. Estimate annual price for insuring each segment/sub-segment
4. Multiply segment sizes with corresponding segment prices and add up the figures
Cheers, Sidi
Hi,
Several steps:
1) Calculating the number of private vehicles
2) Calculating the number of Commercial vehicles
3) Calculating the size of the market
Best
Hi there,
Providing some market sizing thinking for anyone revisiting this Q&A:
Remember that there's rarely a "best" answer with market sizing. What's important is that you break down the problem the way it makes sense to you. Importantly, break it down so that the assumptions you make are the ones you're most comfortable in.
For example, do you know all the major brands? Great go with that. Do you understand all the segments of that country's population (either age or wealth or job breakdown)? Go with that. Do you know the total market size of the tourism (or hotel) industry? Then break it down that way.
Some tips: