Total Available Market (TAM) or market potential represents the total revenue that can be generated by all products addressing a common customer problem (Top-Level Job To Be Done or JTBD) over a planned period, usually a year. Evaluating TAM often involves utilizing industry research and reports, following the ‘top-down’ methodology. Prompts for ChatGPT will help you with this.
8 the best consecutive prompts ChatGPT prompt to calculating TAM/SAM ChatGPT
- Act as a research assistant who helps me determine the total annual revenue of the [industry]. Your first task is to give me a methodology in which you can estimate this figure and highlight what information would you need to search for to get the number. Don’t do any searches yet just explain.
- Estimate total addressable market based on [industry description]. If you have incomplete data, make an educated guess but give me sources. Provide me with a list of top 10 companies.
- Do a sanity check on the estimated annual revenue per company.
- Major Players: give a list of major players in the [industry] and their estimated market share.
- Industry Reports: give any available industry reports or market research studies on the [industry].
- Growth Rate: show historical growth rate of the [industry].
- Plot a chart for annual revenue for the whole industry assuming the growth rate was stable and will be. Assume the revenue between 2010 and 2030. Currently it’s 2023 so you’ll need to go backwards and forward too.
- Now summarize the conversation so far, explain to me step by step what you did and what educated guesses did you infer from them. The goal is to explain how this industry worksPlease provide me with the core data on the industry, in less than 200 words
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