You’ve got a surefire idea. Maybe it’s for a brand new business, or perhaps just a new product or service at your current company. Whatever it is, to make your dream a reality, you need a go-to-market strategy.
The go-to-market strategy is an action plan that outlines the steps an organization will take to launch its product in the marketplace, achieve its key value propositions, satisfy customers, and meet its revenue and profit targets. It helps define the ideal customers and specifies how a company will go about releasing a new product, promoting it, and ultimately selling it to its customers.
The following elements comprise a product’s go-to-market strategy:
- Methods and channels of sales
- Training the sales and support team
- Pricing strategy
- Budget for product launch and marketing
The go-to-market strategy is an action plan that outlines the steps an organization will take to launch its product in the marketplace