Enterprise product managers, or product managers focused on internal products and services for the enterprise organization, often have a difficult time applying traditional product management principles to their space. Most contemporary product management literature focuses on the typical scenario of a product manager bringing a new product to market in order to gain revenue, profit, and market share. For the enterprise product manager, the product in development is often internally-facing and designed to enable capabilities and reduce cost. Enterprise product managers often track savings and outcomes more than revenue and users, so the "market" in this context is different than the market for a typical product.
Terms:
Below are the typical terms used in product management when sizing a market and opportunity.
Total Addressable Market: The sum total of all revenue for all products in the market. If your product had 100% market share, this would be the amount
Served by all products in the market
Serviceable Addressable Market: The revenue generated by group of customer personas within the Total Addressable Market that could buy your product
Served by your product once it's full vision is realized
Target Market: The group of customer personas within the Serviceable Market at which you prioritize your product's feature development and marketing efforts.
Served by your product and it's near-term iterations
Target Niche Market: The group of customer personas within the Target Market at which you prioritize your MVP features and marketing efforts
Served by your product's Minimum Viable Product (MVP)
Below are the exact same concepts, but applied to the enterprise product manager with an internal-facing product designed to reduce cost.
Total Addressable Opportunity: The sum total of all cost for the target opportunity area. If your product reduced cost to zero, this would be the amount saved
Served by all products in the capability area
Serviceable Addressable Opportunity: The sum total of all savings possible in the opportunity area. If your product vision is fully realized, this would be the amount of dollars your product will save the enterprise
Served by your product once it's full vision is realized
Target Opportunity: The group of customer personas within the Total Serviceable Opportunity at which you prioritize your product's feature development and marketing efforts
Served by your product and it's near-term iterations
Target Niche Opportunity: The group of customer personas within the Target Opportunity at which you prioritize your MVP's feature development and marketing efforts
Served by your product's Minimum Viable Product (MVP)
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