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Go-To Market Strategy

Go-To Market Strategy

You may have developed the best and most advanced product, however it might not be enough to succeed on the market. Effective market approach including a well build distribution is more important than product itself. Even the best ideas fail if they are not properly launched and positioned on the market. It is a fact that 80% of new developed products and 90% of start-ups fail before the end of their first year.

A go-to marketing strategy is a step-by-step plan created to successfully launch a product to market. In includes all we need to know before going to the market (strategy, tactics, execution) in addition to uderstanding the target audience, having a marketing plan and outlines of a sales strategy. Each project where we want to acquire new customers needs a go-to maret strategy. There are several scenarious where it is applicable:

  1. start-up launching their first product
  2. established company launching a new offer
  3. re-launch of an upgraded product to acquiere new customers.

Go-To Market Strategy consists of the following key elements:

Market analysis
Market segmentation
Target audience
Positioning
Marketing plan
Sales plan

References

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