Secondary Data & Sales Potential

A) Select two sources of secondary data that you might use in determining the potential market size of your product/service. Why do you believe these are good sources?

Guidance: The objective here is for the team to find two sources that contain data that would be helpful to estimate the potential size of the market for your product or service. In supporting your selections, specify the types of data from these sources that you would use in estimating the market size. Here are some examples of the potential data sources, which can be accessed by clicking the following link: http://www.concordia.ca/library/guides/marketing/intromarketingresearch.html

The above link includes information about:

i) Search for trends, products and services with articles: ProQuest Business Databases and Factiva

ii) Macro-environment and segmentation with Statistic Canada: Census, National household survey & and CANSIM

iii) Market Description and sales potential: Passport by Euromonitor and SimplyMap Canada

B) Attach a sample page from the one source that is most relevant to your product/service. How would you use this data?

Guidance: Include a relevant sample page from the source/site in a properly identified appendix to your report. In the report itself, show how the data contained in that sample page in the relevant appendix would be incorporated into the estimated market size calculation.

C) Estimate the potential sales for this good/service. What factors did you consider in arriving at this estimate? Support your estimate with detailed reasoning and the calculations undertaken.

Guidance: This sub-component of the project is intended to sensitize the student to the challenges and difficulties associated with 'sales forecasting' in the real world. In order to obtain financing for an entrepreneurial initiative, an attempt must be made to generate reasonable sales projections. This is not an easy task, even in the 'real world'. The team is expected to come up with a specific number (in either dollars or units) as a projection for maximum possible first-year sales.

Your professor is not nearly as concerned about the actual number as s/he is about the thinking and logic that was used in deriving it.

Question A, sources that must be used :

Statistics Canada: https://www.statcan.gc.ca/en/start

Socit de l'assurance automobile du Qubec (SAAQ): https://saaq.gouv.qc.ca/en/

**Our product would be derived from CAFU, an UAE-based service, which consists of a fuel delivery and vehicle services platform. It gives their customers benefits such as saving time when it comes to the basic needs of their vehicles

**For Question B and C it's related to Question A