Copyright © 2014 Marketwerks, Inc. 1

Bob SherlockCopyright © 2014 Marketwerks, Inc.

How to Screen a

New Market Opportunity

Copyright © 2014 Marketwerks, Inc.

The challenge

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Your business needs to grow.

You don’t have all the $$ in the world

You need a simple way to

• Screen your opportunities

• Prioritize which one(s) to invest in

Copyright © 2014 Marketwerks, Inc.

Develop answers to 3 simple questions

The Schrello Questions*

1. Is the opportunity real?

2. Can you win (be better than the customer’s alternatives)?

3. Will a win be worth the investment of effort and money?

* Developed by Dominick M. ("Don") Schrello

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Copyright © 2014 Marketwerks, Inc.

Expanding the 3 questions

1. Is the opportunity real?

a. Is the product or service feasible to produce?

b. Is there evidence of customer demand?

What’s the estimated size and growth of the market?

2. Can you win (vs. the customer’s alternatives)?

a. Can your product or service be competitive?

b. Can your company be competitive?

3. Will a win be worth the investment of effort and money?

Estimating market size is often the difficult part…

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Copyright © 2014 Marketwerks, Inc.

First, look for existing information

Free Standard Reports

• U.S. Census Bureau

• Statistics Canada

• Trade association

publications

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1b. How Can You Find Estimates of Market Size & Growth?

If the broad information you can get from these reports is sufficient, these are often the lowest cost options

Paid Standard Reports

B2B Products & Services

• IBIS World

• Frost & Sullivan

Consumer Products

• TraQline (durables)

• IRI (packaged goods)

• Nielsen (packaged goods)

Copyright © 2014 Marketwerks, Inc.

Standard reports: Often of limited use

• Information about small markets can be tough to get

– Not enough demand to justify standard reports from

the big companies

– Some trade associations don’t collect industry

statistics, or share them only with members

Examples

• Custom component and parts manufacturers

– Precision machining, forging, casting, moldings,

assemblies and kitting

• Niche within a larger industry

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1b. How Can You Find Estimates of Market Size & Growth?

Copyright © 2014 Marketwerks, Inc.

Develop customized answers

Marketwerks can address companies’ frustration with

scarcity of data for smaller markets.

We compile and interpret customized market info, and

develop recommended strategies.

More information is available at Marketwerks.com

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1b. How Can You Find Estimates of Market Size & Growth?

Copyright © 2014 Marketwerks, Inc.

Contact

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Bob Sherlock

President

Marketwerks, Inc.

1900 E. Golf Rd. – Suite 950

Schaumburg, IL 60173 USA

847-382-6210

www.marketwerks.com

Twitter: @marketwerks