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Introduction to Market Sizing Research

How many people live in a market?

How many people live in the market?

It's unlikely that every person in your market will be a potential customer but you will want to have an idea of the population size to determine your customer size. Finding population information is easy through the Government of Canada census data. This data is gathered by Statistics Canada every five years and made available through various data tables. You can slice the data into various markets or do your own calculations for a specific region. Census data is considered one of the most reliable sources for population counts. 

The following video does a great job showing you how to find census data and use it for determining your market size and getting demographic information.

Find General Census Data

 

4 STEPS

1. The first step is to open Statistics Canada: Canada's national statistica...

Step 1 image

2. Scroll down and click Census Profile, 2016 Census

Step 2 image

3. Scroll and click Canada

Step 3 image

4. Scroll undefined and that's it. You're done.

Step 4 image

Here's an interactive tutorial

https://www.iorad.com/player/1796751/Statcan-Gc---How-to-untitled-task-name

Scenario

Thinking about our smart phone cases, we could say every person in Canada is a potential customer. This is 35,151,728. We're not really going to sell to every Canadian, so let's narrow this down to all Canadians between the ages of 15 and 64 because in learning about our customers this may be your target age range. In this case the total number of Canadians we'll be looking at is 23,376,530. [Source

 

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