What are some strategies to determine the total addressable marke

There are several strategies to determine the total addressable market (TAM) for a product. One common method is the top-down approach, which starts with industry research and market reports to get a broad view of the market size. Another method is the bottom-up approach, which starts with the company's own sales data and customer information, and extrapolates to the larger market. A third method is the value theory, which estimates the value that the product provides to customers and calculates how much of the market would be willing to pay for that value.

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A price sensitivity matrix helps PMs determine how many people would use a discount that's hard to get vs those that will buy your product at its current price. While all customers will pay less for a product, some customers will wait a longer period of time to buy. This waiting tells you about demand. Other customers may not value a product if it's considered too inexpensive and will pay top dollar to get it as soon as it's available.

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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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