When it comes to market growth, you need to think about percentage change as a market forecast.
Is the number of homeowners in your target market increasing or decreasing? How many older workers retire every year, and how is this changing?
The market for a landscaping business includes all the homes and commercial properties within a logical reach.
The market for downloadable e-books over the internet includes everyone connected to the web.
For years, I consulted with a computer manufacturing company that targeted such market segments as homes, small offices, businesses, educational organizations, and government.
Dividing the market into these segments helped the company address the more specific market needs, media, pricing patterns and decision criteria in each of their different market segments.I've seen good market research come from telephone directories, catalogs, industry association statistical compilations, real estate information and density maps.Always try to divide your target market into useful slices or segments.You need to be able to measure and quantify your market.For example, if local homeowners are part of your target market, then you should be able to count them.Not all the information you need is going to be publicly available, and you may have to settle for educated estimates.Sometimes you'll have to extrapolate information from different sources to get the information you're seeking.You need to understand what's going on with your market.What marketing trends and fashions do you see having an influence on your market segments?How many people eat in restaurants in your market area, and how is this behavior changing?Market forecasts start with the total numbers of possible purchasers in each market segment, then project percentage change over the next three to five years.