Market Traffic : The total amount of potential website traffic in your market. The higher the number, the better.
Market sizeis the total number of potential buyers in your market
Market Explorer Overview Report for the "Accounting & Auditing" Category
Remember:
At this stage you don't go into details.
You'll gain a high-level view of your industry to better understand its dynamics and how your business might fit into this broader picture.
You'll also see which countries present the best opportunities for your business when you scroll down to the "Geographic Market Distribution" section.
Market Explorer Report "Geographical Distribution" Section
Use this information to determine which markets are worth pursuing. And know that markets with a lot of traffic are probably more lucrative.
You will also see the existing players in the market.
"All Domains" table in Market Explorer for "Accounting & Auditing"
Don't get too hung up on details just yet. For now, get a general idea of who you're competing against.
We will conduct an in-depth analysis of malaysian numbers these competitors in the next step.
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3. Analyze the competition
An important part of doing a market analysis is studying your competitors.
Having a thorough understanding of your competitors' product offerings, pricing, and marketing tactics will help you spot gaps in your market and promote your products effectively.
Here's how to analyze your competitors:
First, visit their websites.
Learn what products or services they offer and how they position them. And look for gaps or areas where your product can provide unique value.