From the course: Becoming a Product Manager: A Complete Guide

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Market research: Sizing the market

Market research: Sizing the market

From the course: Becoming a Product Manager: A Complete Guide

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Market research: Sizing the market

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- Hey, everyone, welcome back. This section is all about competitive market analysis. A big part of product management is making sure that the market you're attempting to address is large enough to make it worth going into. This applies if you're a product manager at a company and you're looking at building a feature or product that will put you in another market or if you're starting a new business on your own. There are two common approaches to thinking about market sizing. One of them is top down and the other one is bottom up. The top down analysis is calculated by finding the total market and then estimating what your share of the market is. Let's say that we're selling an iPhone app for let's say, ice cream connoisseurs. Top-down estimate would be something like, okay, we know there are 100,000 ice cream connoisseurs with iPhones in the United States, so if we can just get 10% of them to download our app at $5 a…

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