Evaluating the size and opportunity in a market is a big, almost daunting job for small and mid-size consumer packaged goods (CPG) manufacturers.
But it’s a job that manufacturers can’t afford to avoid. That’s because the process can reveal valuable insights into a product’s category, its competitors and the wider market—crucial information to ensure business success over time.
But to analyze the market effectively, you need to digest a vast amount of data, and that can take time. Here are three tips to make market sizing more efficient:
- Start small
- Understand your consumer
- Assess your category’s performance across accounts
Market sizing is a task all CPG manufacturers need to undertake. To save valuable time and money, make sure you keep these three tips handy.
Fill out the form to watch the Market Sizing Made Easy Video to get our three tips.