Market Trends
Evaluating Market Size and Growth Potential
This prompt helps teams estimate the size and growth potential of a market for a product or service. By understanding market dimensions and expansion opportunities, teams can prioritize investments and design products to capture demand effectively.
Responsible:
Product Management
Accountable, Informed or Consulted:
Product, Marketing, Strategy
THE PREP
Creating effective prompts involves tailoring them with detailed, relevant information and uploading documents that provide the best context. Prompts act as a framework to guide the response, but specificity and customization ensure the most accurate and helpful results. Use these prep tips to get the most out of this prompt:
Collect industry and government reports detailing market size and revenue estimates.
Review economic forecasts related to the market of interest.
Define target audiences or regions to align market estimates with strategic priorities.
THE PROMPT
Research the size and growth potential of [specific market or industry] for [product/service name]. Use insights from:
Industry reports or market research studies (e.g., IBISWorld, Statista, McKinsey) for revenue and user base estimates.
Government or trade association data on economic activity and market size.
Surveys or polls providing insights into market penetration and user adoption rates.
Historical trends in market growth or decline as reflected in case studies or annual reports.
Summarize findings on total addressable market (TAM), serviceable addressable market (SAM), and growth trajectories. Provide recommendations for how [product/service name] can maximize its market capture. If further data or regional specifics are needed, ask clarifying questions to refine the research.
Bonus Add-On Prompts
Identify which subsegments of the market show the fastest growth rates based on recent reports.
Highlight trends in user adoption rates from surveys and polls that align with market growth projections.
Propose strategies for increasing [product/service name]’s share within a growing market segment.
Use AI responsibly by verifying its outputs, as it may occasionally generate inaccurate or incomplete information. Treat AI as a tool to support your decision-making, ensuring human oversight and professional judgment for critical or sensitive use cases.
SUGGESTIONS TO IMPROVE
Focus on specific demographics or industries within the broader market.
Include analysis of adjacent markets for potential expansion opportunities.
Highlight competitor penetration rates to gauge available market share.
Add visualizations, such as market growth charts or opportunity matrices.
Tailor recommendations for niche vs. mass-market strategies.
WHEN TO USE
To validate market size and potential before launching a product.
During strategic planning to evaluate new opportunities.
To allocate resources effectively for high-growth markets.
WHEN NOT TO USE
If reliable data sources are unavailable for the target market.
When focusing solely on existing market penetration without expansion goals.