The 2011 Report on Complete Feed
for Horses and Mules:
World Market Segmentation by City
by
Philip M. Parker, Ph.D.
Chaired Professor of Management Science
INSEAD (Singapore and Fontainebleau, France)
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About the Author
Dr. Philip M. Parker is the Eli Lilly Chaired Professor of Innovation, Business and Society at INSEAD where he has
taught courses on global competitive strategy since 1988. He has also taught courses at MIT, Stanford University,
Harvard University, UCLA, UCSD, and the Hong Kong University of Science and Technology. Professor Parker is
the author of six books on the economic convergence of nations. These books introduce the notion of
“physioeconomics” which foresees a lack of global convergence in economic behaviors due to physiological and
physiographic forces. His latest book is "Physioeconomics: The Basis for Long-Run Economic Growth" (MIT Press
2000). He has also published numerous articles in academic journals, including, the Rand Journal of Economics,
Marketing Science, the Journal of International Business Studies, Technological Forecasting and Social Change, the
International Journal of Forecasting, the European Management Journal, the European Journal of Operational
Research, the Journal of Marketing, the International Journal of Research in Marketing, and the Journal of
Marketing Research. He is also on the editorial boards of several academic journals.
Dr. Parker received his Ph.D. in Business Economics from the Wharton School of the University of Pennsylvania
and has Masters degrees in Finance and Banking (University of Aix-Marseille) and Managerial Economics
(Wharton). His undergraduate degrees are in mathematics, biology and economics (minor in aeronautical
engineering). He has consulted and/or taught courses in Africa, the Middle East, Asia, Latin America, North America
and Europe.
About this Series
This series was created for international firms who rely on foreign markets for a substantial portion of their business
or who might be threatened by international competition. The estimates given in this report were created using a
methodology developed by and implemented under the direct supervision of Professor Philip M. Parker, the Eli Lilly
Chaired Professor of Innovation, Business and Society, at INSEAD. The methodology relies on historical figures
across countries. Reported figures should be seen as estimates of past and future levels of latent demand.
Acknowledgements
Some of the methodologies and research approaches used in this report have benefited from the R&D Committee at
INSEAD, whose research support is gratefully acknowledged.
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Note: as statements and statistics in this report are forward-looking, the reader needs to read the
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Contents v
Table of Contents
1 INTRODUCTION & METHODOLOGY 11
1.1 Overview and Definitions 11
1.2 Market Potential Estimation Methodology 11
1.2.1 Overview 11
1.2.2 What is Latent Demand and the P.I.E.? 12
1.2.3 The Methodology 12
1.2.3.1 Step 1. Product Definition and Data Collection 14
1.2.3.2 Step 2. Filtering and Smoothing 15
1.2.3.3 Step 3. Filling in Missing Values 15
1.2.3.4 Step 4. Varying Parameter, Non-linear Estimation 15
1.2.3.5 Step 5. Fixed-Parameter Linear Estimation 16
1.2.3.6 Step 6. Aggregation and Benchmarking 16
2 USING THE DATA 17
3 CITY SEGMENTS RANKED BY MARKET SIZE 18
3.1 Top 15 Markets 18
3.2 Markets 16 to 30 19
3.3 Remaining Cities by Market Rank 20
4 CITY SEGMENTS IN ALPHABETICAL ORDER 123
4.1 A: from Aalborg to Az Zawiyah 123
4.2 B: from Bacolod to Bydgoszcz 130
4.3 C: from Caaguazu to Cyangugu 138
4.4 D: from Da Nang to Dzhizak 146
4.5 E: from East London to Esteli 150
4.6 F: from Fagatogo to Funchal 152
4.7 G: from Gabes to Gyumri 155
4.8 H: from Hachinohe to Hyderabad 159
4.9 I: from Iasi to Izmir 163
4.10 J: from Jaboatao to Jyvaskyla 166
4.11 K: from Kabul to Kzyl-Orda 168
4.12 L: from La Ceiba to Lyon 176
4.13 M: from Macae to Mzuzu 181
4.14 N: from Nacala to Nzerekore 191
4.15 O: from Oaklahoma City to Oyem 196
4.16 Ö: from Örebro to Örebro 198
4.17 P: from Pago Pago to Pyuthan 199
4.18 Q: from Qandahar to Quito 205
4.19 R: from Rabat to Rustavi 206
4.20 S: from S. Luis Potosi to Szombathely 209
4.21 T: from Tabligbo to Tyre 221
4.22 U: from Uberaba to Utulei 228
4.23 V: from Vacoas-Phoenix to Vukovar 230
4.24 W: from Wadi Medani to Wuhan 233
4.25 X: from Xalapa to Xi'an 234
4.26 Y: from Yamagata to Yungkang 235
4.27 Z: from Zadar to Zvishavane 236
5 CITY SEGMENTS RANKED BY COUNTRY 237
5.1 Afghanistan 237
5.2 Albania 237
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Contents vi
5.3 Algeria 238
5.4 American Samoa 238
5.5 Andorra 238
5.6 Angola 239
5.7 Antigua and Barbuda 239
5.8 Argentina 240
5.9 Armenia 241
5.10 Aruba 241
5.11 Australia 242
5.12 Austria 242
5.13 Azerbaijan 243
5.14 Bahrain 243
5.15 Bangladesh 243
5.16 Barbados 244
5.17 Belarus 244
5.18 Belgium 244
5.19 Belize 245
5.20 Benin 245
5.21 Bermuda 245
5.22 Bhutan 246
5.23 Bolivia 246
5.24 Bosnia and Herzegovina 246
5.25 Botswana 247
5.26 Brazil 248
5.27 Brunei 253
5.28 Bulgaria 253
5.29 Burkina Faso 254
5.30 Burma 254
5.31 Burundi 254
5.32 Cambodia 255
5.33 Cameroon 255
5.34 Canada 255
5.35 Cape Verde 256
5.36 Central African Republic 256
5.37 Chad 256
5.38 Chile 257
5.39 China 257
5.40 Christmas Island 258
5.41 Colombia 258
5.42 Comoros 258
5.43 Congo (formerly Zaire) 259
5.44 Cook Islands 259
5.45 Costa Rica 259
5.46 Cote d'Ivoire 260
5.47 Croatia 260
5.48 Cuba 260
5.49 Cyprus 261
5.50 Czech Republic 261
5.51 Denmark 261
5.52 Djibouti 262
5.53 Dominica 262
5.54 Dominican Republic 262
5.55 Ecuador 263
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5.56 Egypt 263
5.57 El Salvador 263
5.58 Equatorial Guinea 264
5.59 Estonia 264
5.60 Ethiopia 264
5.61 Fiji 265
5.62 Finland 265
5.63 France 266
5.64 French Guiana 266
5.65 French Polynesia 267
5.66 Gabon 267
5.67 Georgia 267
5.68 Germany 268
5.69 Ghana 268
5.70 Greece 269
5.71 Greenland 269
5.72 Grenada 269
5.73 Guadeloupe 270
5.74 Guam 270
5.75 Guatemala 270
5.76 Guinea 271
5.77 Guinea-Bissau 271
5.78 Guyana 271
5.79 Haiti 272
5.80 Honduras 272
5.81 Hong Kong 272
5.82 Hungary 273
5.83 Iceland 273
5.84 India 274
5.85 Indonesia 275
5.86 Iran 276
5.87 Iraq 276
5.88 Ireland 277
5.89 Israel 277
5.90 Italy 278
5.91 Jamaica 278
5.92 Japan 279
5.93 Jordan 281
5.94 Kazakhstan 282
5.95 Kenya 282
5.96 Kiribati 283
5.97 Kuwait 283
5.98 Kyrgyzstan 283
5.99 Laos 283
5.100 Latvia 284
5.101 Lebanon 284
5.102 Lesotho 284
5.103 Liberia 285
5.104 Libya 285
5.105 Liechtenstein 285
5.106 Lithuania 286
5.107 Luxembourg 286
5.108 Macau 286
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5.109 Madagascar 287
5.110 Malawi 287
5.111 Malaysia 288
5.112 Maldives 288
5.113 Mali 289
5.114 Malta 289
5.115 Marshall Islands 289
5.116 Martinique 290
5.117 Mauritania 290
5.118 Mauritius 290
5.119 Mexico 291
5.120 Micronesia Federation 292
5.121 Moldova 292
5.122 Monaco 292
5.123 Mongolia 292
5.124 Morocco 293
5.125 Mozambique 293
5.126 Namibia 293
5.127 Nauru 294
5.128 Nepal 294
5.129 New Caledonia 294
5.130 New Zealand 295
5.131 Nicaragua 295
5.132 Niger 296
5.133 Nigeria 296
5.134 Niue 296
5.135 Norfolk Island 297
5.136 North Korea 297
5.137 Norway 297
5.138 Oman 298
5.139 Pakistan