The total addressable market (TAM) in product management can be defined as the total revenue opportunity available for a product or service, assuming 100% market share. It's typically calculated by estimating how much of the market could realistically spend on your product. This can be done by looking at the size of the market, the competition, and the potential for growth. It's an important concept in product management as it helps to prioritize features and strategies based on the potential return on investment.
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