Presentation #4
TAM, SAM, SOM Analysis
A good idea is not enough to start a business. It is very important to ask yourself: Are there enough customers to make our business even profitable?
This is why it is important to estimate the market size. To put it more precisely we have to estimate the following:
TAM = Our Total Available or Addressable Market (everyone we wish to reach with our product)
SAM = Our Segmented Addressable Market or Serviceable Market (the portion of TAM we will target)
SOM = Our Share of the Market (the subset of our SAM that we will realistically reach)
This is why it is important to estimate the market size. To put it more precisely we have to estimate the following:
TAM = Our Total Available or Addressable Market (everyone we wish to reach with our product)
SAM = Our Segmented Addressable Market or Serviceable Market (the portion of TAM we will target)
SOM = Our Share of the Market (the subset of our SAM that we will realistically reach)
SWOT Competitive Analysis
So we found out who one of our main competitor is - ELS University Guide Online - ...now it is time to complete a SWOT competitive analysis to see which companies have an advantage over ours. For those who have never heard of SWOT: SWOT stands for internal Strengths and Weaknesses, and external Opportunities and Threats.
By completing the SWOT competitive analysis it will not only help us see potential opportunities; opportunities that we maybe didn't even thought of in the first place...it will also help us realize what needs are being satisfied, how they are being satisfied, and if those products/services provided by the competitors really satisfy the needs of the costumers or are they looking for something else?
By completing the SWOT competitive analysis it will not only help us see potential opportunities; opportunities that we maybe didn't even thought of in the first place...it will also help us realize what needs are being satisfied, how they are being satisfied, and if those products/services provided by the competitors really satisfy the needs of the costumers or are they looking for something else?
Our presentation on Slideshare.