Hello,
I am lunching a new business in the Education sector; I am in the process of building the business model (expenses, revenues, etc), and I need some numbers based on reasonable assumptions.
Where can I find similar numbers?
I am talking about market penetration rates? growth rates? market share? etc.
What are the growth models that need to be adopted, and how can I find them?
Kindly advice.
Regards,
In new products, sales forecasting can be a part of marketing feasibility study and it depends mainly on precise definition of your target market. Moreover, industry norms can be used here as benchmark reference. flexible marketing program is necessary here to absorb market trends.
Hi Patrick,
Here are some links that may be useful:
https://books.google.com/books?id=yYwNazn1LsgC&printsec=frontcover&dq=sales+forecasting&hl=en&sa=X&ved=0ahUKEwi6sdHTnr7aAhXDzlkKHd2ZCecQ6AEINTAC#v=onepage&q=sales%20forecasting&f=false
https://books.google.com/books?id=3pacDAAAQBAJ&printsec=frontcover&dq=sales+forecasting&hl=en&sa=X&ved=0ahUKEwi6sdHTnr7aAhXDzlkKHd2ZCecQuwUIMjAB#v=onepage&q=sales%20forecasting&f=false
Have a great day!
--Adrian
Dear Leonidas A. Papakonstantinidis, Thank you for your detailed reply; you gave me a great deal of information, and beneficial references that I am currently in the process of reviewing them.
Sales forecasts are either top down or bottom up. Top down is where you project units based on the hypothesized ability to sales. For example you can take a total available maker estimate prepared by a market analyst like IHS and the break that into what is addressable with your solution. The break that down into what you can realistically reach with the sales force. Bottom up is where you work with a sales pipeline of deals and figure out how much of that can realistically be closed in a given period. Business plans for a new venture are always top down and explain the assumptions underlying the estimate. In certain businesses you can forecast based on prior history—seasonality and an underlying trend. That is really a top down approach because there is no input from the salespeople themselves.
First you need to define the TG. Is it an education app on the lines of BYJU (in India) or is it a new philosophy like Finland. Is it preschool where imparting cognitive , motor skills is more important. Start at a local level after undertaking a survey and start a course/school that is most preferred. Find out what are the competitors are charging? How are you planning to position your offer and then make a plan of finances for a year.
Dear friends,
Thank you for your answers; they are all valuable and useful. However, what I need is percentages? where I can find these percentages? My startup is in the education sector, and deals with a stationery product. Sp, where can I find percentages and statistics related to the penetration rate of a stationery product and of an educational product?
Any ideas?
Thank you.
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