An Analysis of Market Size Identification as a Strategy of Market Entry Research

Abstract

Market access refers to the extent to which customers are utilising a particular product or service in relation to the overall anticipated market demand for that product or service. The fluid movement of businesses across market boundaries has substantial implications, as it affects the integration of assets and expertise inside companies, inter-company partnerships, market strategies, industry value chains, and has an impact on individuals, communities, and even nations. Market penetration is employed to assess the entire capacity of an industry. It aids in assessing the capacity of organisations in the industry to enhance their market share and earn additional revenue through sales. Market size is a crucial aspect of market analysis, as it helps identify profitable market opportunities and allocate financial resources in a way that maximises long-term profitability.  This study aims to provide empirical support for the importance of market size identification and strategic analysis in the development of market entrance plans for new firms. The research is deemed significant due to the increasing potential of globalised company opportunities, wherein new entrants must strategically enter the market by developing strong and viable plans to secure their long-term viability. The research is now confined to analysing the size of a single market. However, it has the potential to be enhanced and made more adaptable by using various methodologies to explore diverse market sizes.