Market Research Doc

Project Task List

To-Do List with Progress Bar

Stage 1 - your users

Stage 2 - the market

Stage 3 - target audience

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Project Overview

👥 The Market Research Doc

From maker Fred Castagnac

Senior Email Marketing Specialist

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Project Overview

Use this document to outline key elements of the upcoming Market Research and keep the information updated as the project progresses.

DACI framework

DACI framework

Role

Who

Driver

Approver

Contributors

Informed

There are no rows in this table

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Background

Define your problem statement and the questions you want to answer with this market research.

Definition - What is Market Segmentation?

Market segmentation is the process of defining and subdividing a large homogeneous market into identifiable segments that have similar needs, wants, or demand characteristics. A market segment should be homogeneous, measurable, substantial, accessible, actionable, and responsive.

Learn more in stage 1:

Start here: How to Segment a Market⁠

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Definition: What is TAM?

TAM stands for “total addressable market”. It's the total amount of yearly revenue that you could achieve if you manage to reach 100% of the people who could use your product. Too small, and you won't make any money; too big, and you'll struggle to focus.

TAM shows you the size of the universe—from there you need to determine how much of the market you can actually serve, and which market you want to target first.

Learn more in stage 2:

Start here: TAM Analysis Basics and How-to⁠

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Project's Stages

A Market research needs to follow different stage one after the other. List all the questions you'll try to answer at every stage.

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Stage 1 - What do we know about your users?⁠

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In this stage you want to gather information about your users/customers

Who is using your product today?

How do they use your product?

Are there any common patterns amongst them?

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Stage 2 - What do we know about your market?⁠

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In this stage you need to define and collect data about your TAM.

What's the size of your product's TAM?

Which segment (company size, job roles, ...) should you address and why?

Who's using and who's buying softwares in the companies?

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Stage 3 - Who is your target audience?⁠

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With the work done in stage 1 and 2 you'll have a better idea of what your ideal audience look like. The goal is to understand:

Who is your target audience?

How do they buy tech products? What's their tech budget?

How do they work? What problems are they trying to solve?

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