I have (almost) never studied Marketing in my life and I find it hard to explain the different layers in market sizing / market entry.
I found this framework online and I wanted to know if I should use it in cases. Is it positively accepted or does it make me sound too much like a student? :)
- Total Market. Total Population
- Potential Market. It is the total population in the market that is interested to buy a product and service
- Available market. Within the potential market all those people with enough money to buy products and services.
- Qualified Available Market. People in the available market who are permitted to buy the available products and services.
- Target Market. It is the segment of the available market that a company ready to serve it.
- Penetrated Market. those customers in the target marketing purchased the products and services