TAM
Total Addressable Market (TAM) represents the total revenue opportunity available if a product or service achieves 100% market share.
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“market potential”
SAM
Serviceable Addressable Market (SAM) is the portion of the Total Addressable Market that a company can target with its products and services.
SOM
Serviceable Obtainable Market (SOM) is the portion of the Serviceable Addressable Market that a company can realistically capture.
Market Gaps
Areas of unmet demand in a market where opportunities for growth and development exist.
Blue Ocean
A market space that is unexplored and uncontested, where companies can create new demand and capture significant market share without much competition.
White Space
An area in a market or industry that is currently underserved or unaddressed, presenting opportunities for innovation and new business ventures.
Test Marketing
A marketing strategy that involves releasing a product to a limited audience to evaluate its market performance before a full-scale launch.
Market Validation
The process of determining whether there is a need or demand for a product in the target market, often through testing and feedback.
MRD
Market Requirements Document (MRD) is a comprehensive document that outlines the market's needs, target audience, and business objectives for a product.