Setting the percentage of target market size:
This percentage represents the percentage of expected customers who will choose your product or service during a certain fixed period, either every month, or 3 months, or one year.
As your company is new and has not offered its products before, it is necessary to put a logical proportion to the total number of market size. A modest percentage of market size is usually targeted in the first year, especially in the presence of a large market and high competition.
You must take into account the growth in this market which will increase the number of customers annually.
It is possible to target more than one market in more than one country and thus strategies for marketing, sales and even automatic pricing may vary from market to another.
- The expected sales volume is calculated as follows:
· Percentage of the target group during a fixed period
· Target market size
· Item price
· It is advisable to calculate and distribute sales forecasts twice
· The first prediction is the volume of sales secured, which you can reach, however you face the challenges and represents the lowest expectations
· The second prediction is the sales volume you expect to receive as you prepare for a good business plan.