TEM

• Entrepreneurs - tend to be solutions-driven people and will focus all of their energy on the products they are building.
• Market size - is this problem something that a lot of people face?
• Pain Intensity - how painful this problem for those people? Does this problem need to be solved?
• Existing alternatives - is this problem being solved in other ways which are adequate?
• Customer psychology and habit change - will people change thier habits and adopt my solution?
• Willingness to pay - will people pay to have this proble solved?
• Lovability - will this solution become something they cannot live without?
• Evangelism - will they go out and tell all of their friends about my solution?
• Context - when does the problem occur?
• Problem - what is the root cause of the problem?
• Alternatives - what do customers do now to fix the problem?
• Customer - who has the problem most often?
• Emotional Impact - how does the customer feel?
• Quantifiable Impact - what is the measurable impact?
• Alternative Shortcomings - what are the disadvantages of the alternatives?
• Existing market - when investors and entrepreneurs go after an existing market, the advantage is that there's little or no market risk.
• Chasm - the gap between early adopters and the mainstream customers in a market
• New market - customers do not exist in the present , so revenue generations takes years.
• Re-segmented Market - a hybrid between a new market and existing market in the sense that it is a new market created from a small segment from an existing market
• Clone Market - customers are known because you copied an existing market. You are going to localize all those specific issues for your country or region.
• Clone market - adapts a foreign business model to a local condition.
• Market segmentation - the practice of dividing your target market into approachable groups.
• Demographics - like age, gender, ethnicity, income, education, religion and profession.
• Psychographic - like personality test, hobbies, life goals, values, beliefs, and lifestyle.
• Geographic - like country, region, city and postal code.
• Behavioral - like spending habits, purchasing habits, browsing habits, brand interactions, brand loyalty and previous feedback.
• Identifying your niche - niche market strategy focuses on the micro-segment of the market.
• Niche market get better referrals for entrepreneurs, more repeat business and have less competition due to its unique nature.
• TAM or Total Addressable Market - refers to the total market demand for a product or service.
• TAM or Total Addressable Market - the maximum amount of revenue a business can possibly generate by selling their product or services in a specific market.
• SAM or Serviceable Addressable Market - estimates the portion of TAM that you can acquire given your limitations - geographic, demographic, marketing and advertising spend.
• SOM or Serviceable Obtainable Market - determines that how many customers from the SAM would realistically purchase your product.
• Top-down Approach - top down analysis is calculated by determining the total market, then estimating your share of that market.
• Bottom-Up Approach - tries to estimate the actual users of the product and how many would realistically become customers.
• Innovators - buyers who love to have innovative products. They are seeking this all the time and it is part of their lifestyle.
• Early Adopters - appreciate innovations and are ready to adopt new products even if they are perfect or not developed from a technical point of view.
• Early Majority & late Majority - innovative technology is not the key for making their decision. They are driven by analysis of different standard factors such as price, quality, needs, and etc.
• Laggards - the last to adopt an innovation. Show little to no opinion leadership.
• Brainstorming -to come up with a many ideas as possible to solve a specific issue.
• Value Proposition Canvas - helps you understand the customers and how your product and services create value.