Final answer:
TAM stands for Total Addressable Market, which is an estimation of the overall revenue opportunity available or a product or service, used in business planning and strategy.
Step-by-step explanation:
According to Mark, TAM stands for Total Addressable Market, which is a term often used in business, especially when it comes to marketing, business planning, and the startup sphere to represent the overall revenue opportunity available for a product or service. It helps businesses plan their growth strategy and is crucial for understanding market size and potential for scaling operations. Calculating TAM involves estimating how much of the market could realistically be reached.