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Serviceable obtainable market (SOM) While SAM outlines the entire market your business is able to address, SOM narrows that down further by focusing on the portion of the market you can capture with your current business model. This metric takes into account your supply limits, production capability, and competitors.
If new players can enter your market quickly and cheaply, they can sell their minimumviableproduct, which is a product with just enough features to satisfy early customers, at a much lower price than you and your competitors can while still covering their product development, marketing, and sales costs.
Depending on its complexity, new product development can last for years, accruing research, prototyping, and production costs without bringing in revenue. For this reason, it could be a good idea to get a minimumviableproduct (MVP) as early as possible to show how your product will work to investors and customers.
Spurred by the influence of smartphones and the convenience of online shopping, mobile commerce sales make up almost 75% of ecommerce marketshare. B2B (Business to Business) B2B ecommerce refers to selling products or services to businesses. Consider a minimumviableproduct approach. What is ecommerce?
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