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Company Name, Product, and New Target Audience
Market Research Memo #2 – Know Your Beachhead Market
To: The Executive Committee
Follow instructions in grey
text, replace blue font with
required information, and
review checklist on page 3.
Delete this text box when all
instructions are completed.
From: Yu Han
CC: Implementation Team
Due Date: October 22, 2023
Re: Know Your Beachhead Market
Out of all the potential target audiences we have reviewed, we have chosen to target ______________
as our initial entry into this industry. Below is an End-User Profile of our Beachhead Audience
describing their demographic information, psychological and emotional profile, and finally, their primary
“needs” and “wants.”
We have also included a market size analysis via our TAM, SAM, and SOM table below to assess how
big our beachhead market will be. Please note that the TAM (Total Addressable Market) is the total
size of the industry. In contrast, SAM (the Serviceable Addressable Market) is the size of our beachhead
market after applying demographic and geographic criteria to the TAM. Our SOM is our target Share
of the Market that we are confident in acquiring with our product launch.
I.
End-User Profile of Our Beachhead Market
Describe your beachhead market with an end-user profile using guidance from the class presentation.
What are their psychological profile and personal values? What label would you give them? Come up
with more psychological details of your audience and validate them with research. Don’t make up stuff.
It is easy to see.
Where do you think they exist? What part of the US do you think you will find them? What are their
values? Please do not use personas for this section, as these often become fake and overly ideal
audiences.
Try to use the beachhead market as your search terms within NYU Bobst Library’s business, marketing,
psychology, and sociology databases to figure out who they are and how they think. Focus on the
search terms to help you find exactly what you want.
You may use age brackets and income ranges, but… you must be realistic and validate them as what
you think people can afford is not truly what they can afford. You must remember that the costs of
living in the US are very high vs. salaries. Salaries have not kept up with food prices, rent, health care,
or even basic transportation costs. Once again, do not use averages! They are misleading and
can easily be skewed by a higher number. Use income ranges instead.
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II.
TAM, SAM, and SOM Table
In Excel, build out a lovely, professional-looking table with your beachhead market’s TAM, SAM, and
SOM formatted professionally and efficiently with calculations for each step from TAM to SAM.
1. TAM is the total size of your industry or the size of your product category. Look under the Statista
database to find this number, or research your industry size under marketing databases within
Bobst Library.
2. SAM is your calculating the size of the beachhead market using the criteria you spelled out in
the End-User Profile. Seek out those data points of the End-User Profile to help you narrow the
TAM to the SAM by multiplying that % by your TAM to help narrow and come up with the size of
the beachhead market.
3. SOM is based on your research and confidence in your product or service design; estimate a
Share of the Market (SOM) that you want to target. This % share will translate into a $ share
that you will use as a revenue target between 3 and 5 years from now in the forecasting
assignment later in the class.
Make sure that Excel table lines have been deleted by coloring the cells with white color. Also, make
sure titles are clear to read and centered. All business formatting requirements also apply to this table,
including font, centering the table in this document, and using footnotes to describe where the data
came from.
Examples from prior classes have been shown to help you design the table.
III.
TAM, SAM, and SOM Analysis
Describe the assumptions and calculations found in the table above. Use bullet points to describe
where the data came from and the analysis. Does your SAM emulate the details in the end-user profile
of the beachhead market?
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Memo Checklist and Instructions:
1.
Use only this Word document template to complete the assignment.
document.
Do not start a new
2.
Replace the blue font text with the required text mentioned.
3.
Answer the questions in grey font under each section, then delete the grey text after you have
completed that section.
4.
Convert grey font into black font text for your content and paragraphs.
5.
Format this memo to business writing requirements:
a. Helvetica Neue / Arial, 12-point font, single spacing, short paragraphs.
b. One line space between paragraphs, full justified, with no indents.
6.
Write complete sentences for each section. Use bullet points, when necessary, in this memo.
7.
Use the Grammarly app to check and review your writing and grammar.
8.
Do a spell check in Word to catch spelling and format errors.
9.
Keep paragraphs for each section short (and easy to read) and not excessively long.
10. Convert the memo to PDF using the Print function to “printing to PDF” for submission.
11. Make sure you use EndNote to create folders to organize your research, as it will help you with
the MLA format bibliography you need to produce at the end of this document.
12. The bibliography should start on a separate page at the end of this memo.
13. You must have at least 25 sources for this memo in MLA format. Each source must be
single-spaced, with a blank line between each listed source.
14. Delete each bullet point in this checklist as you complete it.
15. Make sure the whole checklist is deleted before submission.
16. Submit on Brightspace after edited, spell-checked, used Grammarly, and converted to PDF.
17. Finally, talk out your memo in a private room to catch errors and make quality edits.
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Bibliography
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