Identifying your competitors as soon as possible is key when developing the strategy and the value proposition for a new business. There are four types of competitors:
Market sizing is never accurate, no matter what method is used, but it doesn’t need to be. Remember that is better to be broadly right than precisely wrong. There are two strategies to estimate market size:
The product development process is the instrument every product manager should use. It is refined over the years by the product manager as he works on more products. The product manager could start with an approach like this.