Market Size Analysis: Critical Process For Judging Potential Markets

 Market size analysis is a critical component of business plan designing. The analysis helps estimate the potential of a business as well as to measure its outlook. Also known as Market Size Estimation, the process enables the assessment of business opportunities, accurate planning of marketing and sales budgets, and estimation of the growth of a business.

Market size analysis is a complex and data-intensive process that comprises the following:

1. Classifying the market – The first step involves the classification of the target market into Total Available Market (TAM), Served Available Market (SAM), and Share of Market (SOM). TAM refers to the total revenue potential of a specified market; SAM is the percentage of TAM that the concerned company can service based on the product, technology, and geographic capabilities; and SOM refers to the fraction of SAM that the company serves or plans to serve. Historic details as well as future projections would enable accurate strategizing.

2. Determining the approach – The top-down and bottom-up methods are the two approaches used to develop market size estimation. The top-down approach involves the determination of the total market value followed by the estimation of the company’s share in that market. The bottom-up approach is more refined; the company must first identify target customer segments and then estimate their market size and growth potential using this approach.  The use of both these methods is recommended to ensure accuracy.

3. Selecting the sources – Both primary and secondary research can provide data sources for market size analysis. Secondary research is easily doable and requires less effort; however, primary research can strengthen the understanding of the market and help make better-informed assumptions. Data can be collected through in-depth telephonic interviews, on-site visits, mystery shopping, and face-to-face/in-person meetings.

4. Analyzing the data – The final analysis of the data is done to reach the correct estimate of the potential market. First, the data is structured; the process of structuring qualitative data into groups or sub-heads to identify trends is known as typology. It allows quick analysis through a comparison of information present in the same “cluster.” Quantitative data or estimates are arrived at by triangulating multiple data sources generated by applying different approaches or sources. This leads to accurate market size estimation. Additional research can be undertaken to further confirm the analysis.

5. Deriving market size estimates – The market size is estimated using the above processes, which helps the business to judge the market potential.

Market size analysis serves as the foundation of a solid long-term business plan. The analysis determines the need and potential sustainable demand for the product. It is an essential exercise for start-ups, as identifying the need and demand for their products would help them attract investor interest. Established businesses should also undertake this exercise regularly to ensure their offerings remain relevant to customers' ever-evolving preferences.

Horizontal Window Blinds Vs Vertical Window Blinds

 Typically window blinds are available in horizontal or vertical options and different material options such as wooden vertical blinds or vertical fabric blinds, horizontal wooden blinds, etc. In horizontal window blinds, there are many slats placed horizontally on top of each other and connected with a string that allows rotation to regulate the flow of light between the slats. In vertical window blinds, the slats are placed vertically side by side.

 

How to choose between horizontal and vertical window blinds?

There are certain key points that you should keep in mind while choosing the type of window blinds for your home.

 

Type of window: The choice of blinds depends on the type of window that you are looking to cover. For windows with large sliding doors, the vertical window blinds will be the best option. They are easier to move compared to the horizontal window blinds for such windows. However, if you are covering tall and narrow windows then you should go for the horizontal option. Horizontal wooden blinds have thinner slats that are sturdier than the vertical fabric blinds.

 

The direction of the sun: Vertical window blinds are best suited for east or west-facing windows. However, horizontal blinds are usually seen on windows that face north or south. The reason behind this choice is the angle of sunlight that comes in. You can adjust the horizontal blinds up and down to block or allow light to enter. However, windows facing north or south will not have direct sunlight coming in, so the wooden vertical blinds suit them better.

 

Maintenance: One of the major considerations in choosing window shades has to be maintained. Vertical blinds are considered to be easier to clean since dirt doesn’t accumulate on them. Horizontal blinds also have strings and various other mechanisms which make them a bit more complex to clean. Also, while cleaning horizontal blinds, you need to swipe the slats twice whereas in vertical blinds you can dust a whole section in just one sweep.

 

Privacy: Privacy has always been a major consideration behind installing window shades. In this regard, the horizontal window blinds prove to be a better option. You can completely control the blinds and there is complete freedom to fully open, half-close or fully close them as per your privacy requirements. Compared to horizontal blinds, light passes more easily through the vertical blinds, and also one can easily open the slats to peep inside.

 

Where to buy?

Both, horizontal and vertical window blinds can be easily purchased online here.

 

Benefits And Types of Window Blinds

The Sun shines really bright in India. To make your home comfortably cool during the summers, you need good quality window shadings. While there are so many options such as curtains, the most popular window shades today happen to be window blinds. The reason why they are so popular is the much greater control they offer over other conventional window drapes. There are different types of window blinds and let’s take a look at their benefits.

Types of Window Blinds

• Venetian Window Blinds: The Venetian Blinds are one of the most popular types of window shadings that can be installed at homes, offices, or luxury hotel suites alike. They are opulent and never fail to make a style statement. They are available in various materials such as metals, insulated glass, plastic, and wood or faux wood. You can choose the colour or material to synchronize with your home décor. Hence, you have plenty of options to drape your windows. 

• Window Roller Blinds: When it comes to choosing a stylish window covering for your home, there are not too many options that can compete with window roller blinds. They are ideal for large windows or French windows. They are so stylish, smooth and nowadays you can get motorized roller blinds installed at your homes. They offer stunning designs and operate noiselessly. Roller Blinds are easy to install and they give you the option of choosing from different fabric opacities or colours. 

Benefits of Window Blinds

Window blinds offer you numerous benefits which make them a great window covering option. They are easy to install and come in a wide range of materials such as plastic, fabric, metals, wood or faux wood, etc. Moreover, there is almost an endless variety of colours and texture options to choose from. Another benefit of window blinds is that they are more durable and effective in blocking the harmful UV rays from the Sun compared to curtains. 

Window blinds offer excellent diversity, sunlight control, and privacy options to drape your home windows in style. You can explore great window blind options and easily buy them online here.