Systems and Methods for Estimating Sales and Marketing Parameters for a Product
Systems and methods are provided for determining sales estimates and budget parameters associated with a release of a product. According to certain aspects, an electronic device identifies ( 505 ) a total available market (TAM) for a product over specified time periods. The electronic device selects ( 515 ) various component-related features of the product and compares ( 520 ) the features to those of competing products and, based on the comparison, calculates ( 540 ) an overall product factor for the product. In aspects, the electronic device compares the overall product factor to the TAM to calculate ( 545 ) a share of available market (SAM) for the product over the time periods. In embodiments, the processing module can determine budget parameters associated with a release of the product based on a target SAM for the product over the time periods.
1 . A method in an electronic device of estimating sales of a product, the method comprising:
identifying a total available market (TAM) for the product over a specified time period, the product having at least one component-related feature;
for each of the at least one component-related feature of the product:
comparing the component-related feature of the product to the component-related feature of at least one competing product, and
determining a weight for the component-related feature of the product based on the comparing;
calculating, by a processor, an overall product factor based on the weight for each of the at least one component-related feature of the product; and
applying the overall product factor to the TAM to determine a share of available market (SAM) for the product over the specified time period.
2 . The method of claim 1 , further comprising:
after a portion of the specified time period has elapsed, analyzing one or more reviews associated with at least one of 1) the product or 2) the at least one competing product;
modifying the overall product factor based on the analyzing; and
updating the share of available market (SAM) for the product over a remainder of the specified time period based on the overall product factor that was modified.
3 . The method of claim 2 , wherein the one or more reviews are from one or more of 1) a customer that purchased the product or 2) a consumer who used the product.
4 . The method of claim 2 , wherein the analyzing the one or more reviews comprises:
identifying, in each of the one or more reviews, an assessment of the at least one component-related feature of the product; and
modifying the weight for each of the at least one component-related feature based on the assessment.
5 . The method of claim 1 , wherein the specified time period comprises a plurality of sub time periods and wherein the applying the overall product factor to the total available market (TAM) comprises determining a sub share of available market (SAM) for the product over each of the plurality of sub time periods.
6 . The method of claim 1 , further comprising:
after a portion of the specified time period has elapsed, identifying a remaining supply of a component associated with the at least one component-related feature;
modifying the overall product factor based on the remaining supply; and
updating the share of available market (SAM) for the product over a remainder of the specified time period based on the overall product factor that was modified.
7 . The method of claim 1 , wherein the total available market (TAM) is based on one or more of historical sales data, technology penetration estimates, an availability of the at least one competing product, or lifecycle data for the product.
8 . The method of claim 1 , wherein the at least one component-related feature of the product is one or more of a processor, a display, a battery, a memory, a sensor, or a camera.
9 . A method in an electronic device of estimating budget parameters associated with a product, the method comprising:
identifying a target share of available market (SAM) for the product over a specified time period, the product having at least one component-related feature;
for each of the at least one component-related feature of the product:
comparing the component-related feature of the product to the component-related feature of at least one competing product, and
determining a weight for the component-related feature of the product based on the comparing;
calculating, by a processor, an overall product factor based on the weight for each of the at least one component-related feature of the product; and
determining, based on the overall product factor, a budget associated with the target SAM for the product over the specified time period.
10 . The method of claim 9 , wherein the budget relates to one or more of a price point for the product or a marketing budget.
11 . The method of claim 9 , further comprising:
after a portion of the specified time period has elapsed, identifying an actual sales volume of the product over the portion of the specified time period;
based on the actual sales volume, updating the budget associated with the target share of available market (SAM) for the product over a remainder of the specified time period.
12 . The method of claim 9 , further comprising:
after a portion of the specified time period has elapsed, analyzing one or more reviews associated with at least one of 1) the product or 2) the at least one competing product;
modifying the overall product factor based on the analyzing; and
updating the budget associated with the target share of available market (SAM) for the product over a remainder of the specified time period based on the overall product factor that was modified.
13 . The method of claim 9 , further comprising:
identifying an available supply of a component associated with the at least one component-related feature for a portion of the specified time period; and
based on the available supply, updating the budget associated with the target share of available market (SAM) for the product over the portion of the specified time period.
14 . A processing device for estimating sales of a product, the processing device comprising:
at least one processor; and
a memory device which stores a plurality of instructions, which when executed by the at least one processor cause the at least one processor to perform operations including:
identifying a total available market (TAM) for the product over a specified time period, the product having at least one component-related feature,
for each of the at least one component-related feature of the product:
comparing the component-related feature of the product to the component-related feature of at least one competing product, and
determining a weight for the component-related feature of the product based on the comparing,
calculating an overall product factor based on the weight for each of the at least one component-related feature of the product, and
applying the overall product factor to the TAM to determine a share of available market (SAM) for the product over the specified time period.
15 . The processing device of claim 14 , wherein, when executed by the at least one processor, the plurality of instructions cause the at least one processor to perform operations further comprising:
after a portion of the specified time period has elapsed, analyzing one or more reviews associated with at least one of 1) the product or 2) the at least one competing product,
modifying the overall product factor based on the analyzing, and
updating the share of available market (SAM) for the product over a remainder of the specified time period based on the overall product factor that was modified.
16 . The processing device of claim 15 , wherein the analyzing the one or more reviews comprises:
identifying, in each of the one or more reviews, an assessment of the at least one component-related feature of the product, and
modifying the weight for each of the at least one component-related feature based on the assessment.
17 . The processing device of claim 14 , wherein the specified time period comprises a plurality of sub time periods and wherein the applying the overall product factor to the TAM comprises determining a sub share of available market (SAM) for the product over each of the plurality of sub time periods.
18 . The processing device of claim 14 , wherein, when executed by the at least one processor, the plurality of instructions cause the at least one processor to perform operations further comprising:
after a portion of the specified time period has elapsed, identifying a remaining supply of a component associated with the at least one component-related feature,
modifying the overall product factor based on the remaining supply, and
updating the share of available market (SAM) for the product over a remainder of the specified time period based on the overall product factor that was modified.
19 . The processing device of claim 14 , wherein the total available market (TAM) is based on one or more of historical sales data, technology penetration estimates, an availability of the at least one competing product, or lifecycle data for the product.
20 . The processing device of claim 14 , wherein the at least one component-related feature of the product is one or more of a processor, a display, a battery, a memory, a sensor, or a camera.