Sizing your beachhead market
To estimate the size of your beachhead market you must consider the various subsets of a market and research into each one to understand the dimension of each subset: the Total Addressable Market (TAM), the Serviceable Available Market (SAM) and the Serviceable Obtainable Market (SOM). TAM, SAM,…
Who is your End User?
Once you have identified your beachhead market, you dive into it for a detailed analysis of your End User Profile. In the article “Know your customer” we already covered that you have to know which product or service your customer wants as well as who the Decision-Making Unit is. Now, using…
Building your ‘Minimum Viable Product’
The main purpose of your ‘Minimum Viable Product’ is to quickly see the essence of your idea in action and test your key hypothesis to minimize errors with the minimum amount of effort and resources. Some of the main benefits resulting from building an ‘MVP’ for your idea are: Initial model.…
Types of Market Research
Market research is the process of gathering, analyzing and interpreting information not only about the market and the product/service to be offered, but also about the past, present and potential customers for this product/service. The ultimate goal of any market research is to gain insights about…
