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In this section, you will present evidence about the anticipated size of the market for your business. You should include results of marketing research or reports from the industry. By the end of this section, you should have persuaded your audience that there is a market for your e-commerce business. Use the marketing funnel to establish an estimate of the market potential for your business. The marketing funnel provides a top-down approach where you start with a target population and then reduce that number based on market statistics, to show that there are a sufficient number of customers who want your product or service on-line. Substantiate your assumptions for each step in the marketing funnel. At the end of the marketing funnel, you will have an estimated number of customers for your product. Multiply the numbers of customers by the average spend for each customer to calculate your total projected revenue for the first year