Market Sizing & Structure

To define opportunities for acquisition, distribution or revenue, you need to know market revenue down to the product level to create your company strategy. Our customized Market Sizing & Structure research utilizes direct feedback from end-users and suppliers to give you the detail you need.

Have you ever asked yourself these questions: “What is the total market size in retail dollars for our product or sub-product?”  “How large is the total addressable market?” “What share of sales is from each channel segment?”  “What is our brand share of the total market?”  “How much of the total market is Pro vs DIY?” Then you need market sizing insights.

In order to forecast and strategize in a productive and insightful way, you need to have concrete answers to the above questions (and more). These answers will help you define your opportunities and goals for your product, distribution and customer segment because you’ll know what the true dollar value is at your product level.

Insights Include:

volume & dollar of purchases & sales

What is the sales volume of the product market?

This ratio captures how much product is being sold for (or purchased for) on a per unit or volume basis. This information is essential for creating accurate corporate strategy and forecasting.

Discovery includes the following features:

  • Influences/Resources: Determine who and what is involved in the decision process
  • Product Behaviors/Uses: Identifies common product uses in the market
  • Challenges/Needs: Identifies common issues and solutions with the product
  • Ideation of Solutions: Utilizes groupthink to build on ideas that may benefit users
Concept Testing
product use & population estimates

What is the potential customer and market opportunity?

We capture the frequency of product purchases (or product sales) and combine that with population sizes to provide you with a total addressable market and sales potential. Not just in total, but by customer segment and channel segment.

Concept Testing includes the following features:

  • Concept Perceptions: Identifies pros and cons common among users as well as areas of information still needed
  • Preference: Rating and ranking of product features and perceived benefits along with ranking value statements
  • Intent to Try and Buy: Metric used to determine the potential in-market success
Concept Testing
brands purchased & sold

What is the brand share among customer and channel segments?

This determines brand sales volume and hierarchy; in essence, your brand share and that of your competitors. We can then apply brand share by customer and channel segments to reveal market opportunities for growth.

Concept Testing includes the following features:

  • Concept Perceptions: Identifies pros and cons common among users as well as areas of information still needed
  • Preference: Rating and ranking of product features and perceived benefits along with ranking value statements
  • Intent to Try and Buy: Metric used to determine the potential in-market success

Download Report

We surveyed nearly 2,000 DIYers and Pros to bring you current data on how COVID-19 has permanently influenced Brand, Channel and Media behaviors.

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Learn More About Our Process

Define & Customize

Qualify & Collect

Analysis & Action

We bring industry and category knowledge to your project, which gives you a head start by allowing us to start discussing your specific needs. Through our in-depth conversations, we’ll define a customized research approach that will produce detailed insights to drive informed strategic decisions. We’ll survey targeted, pre-screened, tightly-profiled respondents, and use their answers to analyze the data and build your report. We then apply over 150 years of combined industry knowledge to bring a deeper level of analysis and recommendations. You end up with data-driven insights supported by industry expertise that provide you with actionable recommendations.

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Are You Ready to Get Started?

If you are ready to discuss Farnsworth’s Product Development research today, fill out the form below for a free project consultation.

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Check Out Our Other Services We Provide

Brand Health

Evaluate brand metrics, perceptions & competition to improve your brand position.

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Customer Usage & Attitude

Gain a fundamental understanding of customers in your market for a particular product.  

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Product Development

Select the best concept, features, pricing and communication for a more successful product launch.

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