Intermediate level · Module 1: Market Research · Lesson 3 of 3
Surveys and Market Size
Collect evidence and estimate how big the opportunity is.
In this lesson you will
- Design a short, neutral survey
- Estimate market size simply
Key concepts
survey designneutral questionssamplemarket size estimate
The lesson
Short surveys with neutral questions give useful evidence; test questions on two people first.
Estimate market size from the bottom up: number of target customers × how often they buy × typical spend.
Treat estimates as ranges and update them as you learn.
Step by step
- Write a ten-question survey.
- Survey 20 people.
- Summarise results.
- Estimate market size.
Practice activity
Complete the survey and market estimate.
Expected result: A survey summary and a reasoned market estimate.
Check your understanding
-
How do you estimate market size bottom up?
Show answer
Customers × purchase frequency × typical spend.
-
Why test survey questions first?
Show answer
To find confusing or leading questions.
Taught live by an instructor — online or in person. Free course lessons are for self-study and do not lead to a certificate — see registration options.