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Introduction to Market Sizing Research

How many potential customers live in a market?

There are a number of ways to identify how many potential customers you could have in a market. You’d want to identify who your target audience is. In this case, potentially all smart phone users in Canada. You may be able to get more specific and identify a subset. Perhaps types of people more conscious of germs and bacteria and are between the ages of 18 and 34.

Once you've identified the types of people you'll be marketing to, you can start to find information about them. This tutorial will show you two ways to collect consumer information using Vividata and the Mintel Databook.

Tip: You might not find the exact number of potential customers, you may need to do a little bit of math.
Take the data you may have found from Statistics Canada and data from Vividata to determine your size.  

Find Consumer Information in Vividata

15 STEPS

1. The first step is to open Seneca Libraries and click Databases A-Z

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2. Click V.

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3. Click Vividata.

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4. Click Proceed to Vividata.

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5. Click https://vividata.dapresy.com/.

Take note of the username and password as you will need these for the next screen. 

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6. Enter the username and password from the previous screen and click Login.

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7. Click Winter 2021 or the most recent season listed if available.

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8. In the search field try some search words for your topic. We used phone. This will help find data points related to your topic. Click the magnifying glass to search. (Yes, it might take a bit, it's a slow, but powerful, database)

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9. For our example we are looking under Digital Devices, you may use a different category. Click the category to expand it.

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10. Browse through the data points to identify potentially useful ones. This may be personally have/where bought/how often and more, depending on your topic.

When you've identified a variable you'd like to use, hover over it and select Add as question.

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11. Remove your search term now.

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12. Click Demographics.

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13. Identify how you would like the information displayed as. For example we want to know about people 14+. You may want to know about them based on income, location and more. Hover over the variable and click Add as split.

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14. Click Generate.

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15. That's it. You will now have information about your target audience. 

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Here's an interactive tutorial

https://www.iorad.com/player/1792327/Find-target-audience-information---Vividata

Scenario

Using Vividata you can find a few data points to help us further identify how many customers we could potentially sell to. In this case we are going to say all Canadians from 15-64 who own a smart phone are potential customers. Using the numbers we previously gathered on population size, and the data from Vividata, our potential customer size is about 20.5 million.

Additional data that may be useful in Vividata would be what phone brands do Canadians own. If you know that your phone cases are going to be first for iPhones, we can look at the "Digital Devices/Mobile Phone\Mobile Phone-Brands Personally-Have" variable for 14+ to find out that 46.3% of respondents have an iPhone. Which would mean approximately 9.5 million Canadians have an iPhone based on all our previous data.

Find Consumer Data in Mintel Databooks

11 STEPS

1. The first step is to open Seneca Libraries and click Databases A-Z

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2. Click M

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3. Scroll down and click Mintel Reports

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4. Click Proceed to Mintel and then follow the steps to log in

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5. Click Consumer Data

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6. Browse through to find your relevant category, for our scenario we will look under Technology & Media

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7. Then expand Technology

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8. Then we will select Digital and Hardware as our product is related to these categories.

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9. Scroll down under Region and expand North America to check off Canada

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10. Browse the results for a data set that sounds promising for your topic. For our product we are going to try Digital Trends: Hardware

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11. That's it. You're done. Browse the page for useful data or return to the previous step to explore a different data set.

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Here's an interactive tutorial

https://www.iorad.com/player/1795402/How-to-Find-Consumer-Data-in-Mintel-Databooks

Scenario

Mintel databooks will have similar content but may provide different calculations. Check the information provided and identify why the data may be different. The Mintel data has 86% of users have a smart phone, but in this case it is looking at the ages 18+, in Vividata we looked at 14-64. Double check that your age ranges match up for calculations.

Tip: If you browse further on this dataset in Mintel you may find further useful information. 
In this case there is a specific question asking about antimicrobial cases! Always look to see 
what more information you can find to strengthen your argument.

Further Resources

You may also want to check out the following databases for more on consumer insights.

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