market size

Definition

The number of buyers and sellers in a particular market. This is especially important for companies that wish to launch a new product or service, since small markets are less likely to be able to support a high volume of goods. Large markets could bring in more competition.

Use market size in a sentence

The market size was very small compared to what I thought it was going to be and that made me wonder about some things.

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Before launching a new product, the company tested the market size to see how many people would potentially be interested in their product.

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Given the recent popularity of the product and the competition in meeting the demand, Warren found the market size too daunting to consider entry into.

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