4 Steps for Calculating the Potential Market Opportunity for a New Product or Service

Experts: Chris Meering, Emil Berthelsen

Many efforts to define total market opportunity rely on poorly segmented macrolevel market data, leading to unrealistic expectations. To achieve improved market-sizing activities as part of product planning, product managers should start by building defensible total market opportunity estimates by combining top-down and bottom-up research approaches tightly focused on the target market segments for the product or service.

Product managers can use the framework in this research to craft a well-considered estimate of opportunity and justification of that assumption starting with the total market opportunity and segmenting down to the market segment opportunity level. 

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