Market Growth Explained9 minAdd to My Watch List Expand buttonGrowth rates are relative, so the trick is learning how to position your business in a growth market. This overview covers how to identify which segments and sub-segments of your market are growing, then shifting your business into a beneficial position. This Microcast includes a look at how a skincare business could approach positioning for growth.
Your market’s growth rate is out of your hands — but how you position your business to capitalize on it is entirely within your control. By selecting the most relevant growth rate for your market segment and aligning your company’s objectives accordingly, your projections will hold up under scrutiny and set you on the path toward profits. This learning stream solves the challenge of projecting future growth with a framework for researching statistics, methods for calculating growth rates, and a list of pitfalls to avoid.
You will learn:
- What factors impact market growth rates?
- Which industry and market growth rates are best for me to use to predict how my company will perform?
- Where can I look to find relevant, local growth rates, and how do I evaluate information sources?
- How can I calculate a compound annual growth rate, and why should I bother?