Public:Market Sizing
To market to your audience you first understand your market. This is done by Market sizing.
Note: TAM and ICP from ABM Course > Section 2 >Chapter7 and Chapter8
Let us understand the concept by an example:
- Security camera :
TAM(Total Addressable Market) should be average revenue per customer/total customers revenue or target customers in the market. TAM calculation can be taken as an exercise for the clarity on the future roadmap, check the demand of the product and profit for future production.
TAM=Total number of buyers for any product. For example: security cameras
ICP= Wifi enabled security camera /Bluetooth cameras/Wired cameras
SAM=Home owners/Office buildings/Entertainment place/Bank etc
SOM=Wired indoor cameras
