How can we determine the Market size?

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There is a fairly standardized formula for determining the market size. Once the target market is identified, the market size can be determined by multiplying the number of potential customers by the number of transactions per year. For example, if your company is selling toothbrushes, you could calculate the market size by determining the population of toothbrush-purchasing individuals in the select region and multiplying that by the amount of times a toothbrush is purchased (estimated to be about 2-4 times per year).

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