TAM
Total Addressable Market (TAM) represents the total revenue opportunity available if a product or service achieves 100% market share. Essential for understanding the full potential of a market.
72 topics found for:
“market opportunities”
Blue Ocean
A market space that is unexplored and uncontested, where companies can create new demand and capture significant market share without much competition. Crucial for identifying opportunities for innovation and growth by creating new markets.
SAM
Serviceable Addressable Market (SAM) is the portion of the Total Addressable Market that a company can target with its products and services. Essential for focusing marketing and sales efforts on reachable segments.
Opportunity Space
The area within a market where unmet needs or problems present potential for new products or services. Essential for identifying new business opportunities.
Market Gaps
Areas of unmet demand in a market where opportunities for growth and development exist. Essential for identifying new business opportunities.
SOM
Serviceable Obtainable Market (SOM) is the portion of the Serviceable Addressable Market that a company can realistically capture. Essential for setting achievable sales and market share goals.
Competitive Landscape
The overall market environment in which a business operates, including the strengths and weaknesses of competitors. Important for understanding the market context and identifying opportunities and threats.
White Space
An area in a market or industry that is currently underserved or unaddressed, presenting opportunities for innovation and new business ventures. Important for identifying gaps in the market that can be filled with new products, services, or solutions.
Product Discovery
The process of identifying user needs and market opportunities to inform the development of new products or features. Crucial for ensuring that products are user-centered and meet real market demands.
MRD
Market Requirements Document (MRD) is a comprehensive document that outlines the market's needs, target audience, and business objectives for a product. It serves as a crucial tool for aligning product development efforts with market demands and business goals, ensuring that the final product meets customer needs and achieves market success.
Incumbent
An established company or market leader that holds a significant market share and has a strong presence in the industry. Important for understanding the dynamics between established players and new entrants in a market.
Red Ocean
A market space that is already crowded with competition, where companies fight for market share, leading to intense rivalry and lower profitability. Important for understanding competitive dynamics and market saturation in strategic planning.
Disruptive Innovation
Innovation that creates a new market and value network, eventually disrupting and displacing established market-leading products or services. Crucial for understanding how new entrants can challenge established players and transform industries.
Competitive Analysis
A strategic research process that involves evaluating competitors' products, services, and market positions to identify opportunities and threats. Essential for informing product strategy, differentiating offerings, and gaining a competitive advantage in the market.
Opportunity Solution Tree
A visual tool that maps out opportunities and the corresponding solutions, helping teams identify and prioritize where to focus their efforts. Crucial for strategic planning and ensuring alignment between problems and solutions.
First Mover Advantage
The competitive advantage gained by the initial significant occupant of a market segment, which can lead to brand recognition and customer loyalty. Important for understanding the benefits and risks of being an early entrant in a new market.
Product Disruptor
A product that significantly changes the market or industry by introducing innovative features or a new business model. Important for understanding market dynamics and identifying opportunities for innovation.
Product Strategist
A professional responsible for defining the strategic direction of a product, ensuring it aligns with market needs and business objectives. Essential for guiding product vision and ensuring long-term success.
Brand Extension
The practice of using an established brand name to introduce new products or services. Essential for leveraging brand equity to expand product lines and enter new markets.
Value Innovation
The simultaneous pursuit of differentiation and low cost, creating a leap in value for both the company and its customers, often associated with Blue Ocean Strategy. Important for developing strategies that can open up new markets and create significant competitive advantages.
Endorsed Brand
A brand that is supported by a stronger brand, typically a parent brand, which lends its credibility. Essential for leveraging the strength of a parent brand to build trust and recognition for a sub-brand.
Scarcity
A psychological principle where people place higher value on objects or opportunities that are perceived to be limited or rare. Important for understanding consumer behavior and designing marketing strategies that leverage perceived scarcity.
Competitor Analysis
The assessment of the strengths and weaknesses of current and potential competitors to identify competitive advantages and disadvantages. Essential for strategic planning and positioning within the market.
Sales Forecasting
The process of estimating future sales based on historical data, trends, and market analysis. Crucial for setting realistic sales targets and planning resources effectively.
Hockey Stick Growth
A pattern of rapid and sustained growth after a period of linear or stagnant growth, resembling the shape of a hockey stick. Crucial for understanding and planning for rapid expansion phases in digital product lifecycle and business strategy.
Product Sense
The ability to intuitively understand what makes a product successful, including market needs, user experience, and competitive landscape. Important for making informed decisions that lead to successful product development.
Brand Audit
A thorough examination of a brand's current position in the market and its effectiveness in reaching its goals. Important for assessing brand health and identifying areas for improvement.
Product Development
Product Development is the process of bringing a new product to market or improving an existing one. Crucial for innovation, meeting customer needs, and maintaining a competitive edge.
PESTEL Analysis
A strategic framework used to analyze the external macro-environmental factors affecting an organization: Political, Economic, Social, Technological, Environmental, and Legal. Essential for strategic planning and understanding market dynamics.
Greenfield
A project or venture that starts from scratch, with no constraints imposed by prior work, enabling innovation and flexibility in development. Essential for recognizing opportunities for innovation and fresh development in business initiatives.
COM-B Model
Capability, Opportunity, Motivation (COM...) is a framework for understanding Behavior (àB). Important for designing interventions that effectively change user behavior.
Business Viability
The potential for a project or solution to be economically sustainable and profitable. Important for ensuring that design and development efforts align with business goals and market demands.
Business Agility
The ability of an organization to adapt quickly to market changes and external forces while maintaining a focus on delivering value. Essential for fostering an adaptable and resilient design and development process.
SWOT Analysis
Strengths, Weaknesses, Opportunities, and Threats (SWOT) is a strategic planning tool that is applied to a business or project. Essential for strategic planning and decision-making.
SERP
Search Engine Results Page (SERP) is the page displayed by a search engine in response to a user's query. Essential for understanding how search results are presented and how to optimize content to appear prominently.
Sales Pipeline
A visual representation of the stages a sales opportunity goes through, helping to track progress and forecast revenue. Important for managing sales processes and predicting future sales.
Commodification of Design
The process where design services and outputs become standardized and interchangeable, often leading to competition based primarily on price rather than quality or creativity. Important for understanding market trends and pressures that reduce the perceived value and uniqueness of design work, impacting pricing and differentiation strategies.
Business Acumen
The ability to understand and deal with various business situations, making sound decisions to ensure successful outcomes. Important for designers to align their work with business goals and make informed decisions.
VOC
Voice of the Customer (VOC) is a process for capturing customers' expectations, preferences, and aversions. Crucial for guiding product development and improving customer satisfaction.
White Label
A product or service produced by one company that other companies rebrand to make it appear as if they had made it. Crucial for understanding business strategies that allow for customization and brand differentiation.
Product Consolidation
The process of combining multiple products or product lines into a single offering to streamline operations and reduce complexity. Useful for optimizing product portfolios and improving operational efficiency.
CRO
Conversion Rate Optimization (CRO) is the systematic process of increasing the percentage of website visitors who take a desired action, such as making a purchase or filling out a form. Crucial for improving user engagement and achieving business goals.
Portfolio Management
Portfolio Management is the process of overseeing and coordinating an organization's collection of products to achieve strategic objectives. Crucial for balancing resources, maximizing ROI, and aligning products with business goals.
Rapid Experimentation
The practice of quickly testing and iterating on ideas to validate assumptions and learn from user feedback in a short time frame. Essential for agile development and making data-driven decisions efficiently.
Emerging Trends
Newly developing patterns or shifts in technology, behavior, or design that have the potential to influence future practices and strategies. Important for staying ahead of the curve and adapting to changes in the industry.
ROI
Return on Investment (ROI) is a performance measure used to evaluate the efficiency or profitability of an investment or compare the efficiency of different investments. Crucial for assessing the financial effectiveness of business decisions, projects, or initiatives.
Business Analytics
The process of using statistical analysis and modeling to explore and interpret business data to make informed decisions. Essential for improving business performance, identifying opportunities for growth, and driving strategic planning.
Business Model Canvas
A strategic management template for developing new business models or documenting existing ones, detailing elements like value proposition, infrastructure, and customers. Important for understanding and designing business strategies that align with product and user experience goals.
Brand Touchpoint
Any interaction or communication between a brand and its audience. Important for managing and optimizing all points of contact to ensure a positive brand experience.
AARRR
Acquisition, Activation, Retention, Referral, and Revenue (AARRR) is a metrics framework for assessing user engagement and business performance. Important for product managers to understand customer lifecycle and optimize business growth.
Operational Efficiency
The ability to deliver products or services in the most cost-effective manner without sacrificing quality. Key to reducing costs and improving profitability.
Journey Mapping
A technique that visualizes the process users go through to achieve a goal with a product or service. Essential for identifying pain points and optimizing user interactions to improve overall experience.
Technology Exploration
The process of investigating and experimenting with new technologies to understand their potential applications and benefits. Essential for innovation and staying ahead in a rapidly changing technological landscape.
Inflection Point
A moment of significant change in a process or system, where the direction of growth, performance, or trend shifts markedly. Important for recognizing critical transitions in design or business strategies, enabling timely adjustments and informed decision-making.
Ideation
The process of generating a broad set of ideas on a given topic, with no attempt to judge or evaluate them initially. Crucial for creative problem-solving and developing innovative solutions in product design and development.
Idea Management
The systematic process of capturing, evaluating, and implementing ideas to drive innovation, reflecting a collective commitment to continuous improvement and product excellence. Essential for harnessing team creativity and maintaining the entrepreneurial spirit that characterizes successful product development.
Reciprocal Altruism
A behavior in which an individual provides a benefit to another with the expectation that the favor will be returned in the future, fostering mutual cooperation and long-term relationships. Important for building trust, cooperation, and mutually beneficial relationships in various social and professional contexts.
Phygital
A blend of physical and digital experiences to create a cohesive user experience. Important for integrating online and offline customer interactions.
NPS
Net Promoter Score (NPS) is a metric used to measure customer loyalty and satisfaction based on their likelihood to recommend a product or service to others. Crucial for gauging overall customer sentiment and predicting business growth through customer advocacy.
KPI
Key Performance Indicators (KPIs) are quantifiable measures used to evaluate the success of an organization, employee, or project in meeting objectives for performance. Essential for tracking progress, making informed decisions, and aligning efforts with strategic goals across various business functions, including product design and development.