How to define a Market Size
A three step process for defining the total addressable market (TAM), serviceable addressable market (SAM) and serviceable obtainable market (SOM).
A three step process for defining the total addressable market (TAM), serviceable addressable market (SAM) and serviceable obtainable market (SOM).
SubscribeWhat is a Market SizeStep One: Define the Target Audience
In order to understand the market that you are sizing, you must identify the customers within that market.
This is often referred to as the target audience.
Step Two: Conduct Research
Conduct desk research and a competitor analysis to identify the number of people who are operating within the market.
Step Three: Calculate
Using the research from Step Two, calculate the total addressable market (TAM), serviceable addressable market (SAM) and serviceable obtainable market (SOM).
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