How does defining the total addressable market contribute to prod

Defining the total addressable market (TAM) contributes to product success by providing a clear understanding of the maximum potential market size. This helps in strategic planning, resource allocation, and investment decisions. It also allows product managers to prioritize product features and target marketing efforts effectively. Understanding the TAM can also help identify potential growth opportunities and risks, thereby contributing to the overall success of the product.

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How do you take your product management to the next level? In this , we're going to review some of the top tools that product managers at companies like Tesla, Airbnb, Apple and Virgin Atlantic use to manage their products. We'll explain everything from how to create a price sensitivity matrix, define your total addressable market, conduct a cost benefit analysis, evaluate your product ideas with a MoSCoW feature prioritization, and make use of a KANO diagram to produce successful products.

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Product Management Toolkit (Part 2)

How do you take your product management to the next level? Due to popular demand, we've expanded our Product Development Toolkit to include more tools...

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