From the course: Determining Market Size for Your Product or Service
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TAM, SAM, and SOM
From the course: Determining Market Size for Your Product or Service
TAM, SAM, and SOM
- All right, now we're ready to do some market sizing. So what we did in our last segment was we took a look at the industry and that's kind of the top of the funnel, the first piece of the funnel. Now we're going to go ahead and focus on the second piece of the funnel, which is the market. Now how you really get to the market is you start applying people to it. Once you apply people to it, now we can start to narrow it down, not by the industry so much but by the people that are actually in the market. Now there are three different definitions to market size, so we don't want to get confused. The first one you've probably heard of before, which is called TAM. That's your Total Addressable Market. I like to think of this one as the potential market. Who can actually buy my products or services. So we're going to define that one and get a good size for that. SAM, which is your Segmented Addressable Market, and that's…
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