A go-to-market strategy is an analytical framework that entails a detailed overview of market dynamics, entry routes, and action plan for delivering product or service to end customer. In developing the go-to-market strategy framework, market research is the fundamental element. It is specifically required when a business is trying to enter a new country or market, or launching a new product or an adjacent product line altogether. During this phase, businesses seek to understand multiple factors: right product-market fit, market landscape, demand/supply scenario, market demand and growth, type of consumers, competitive landscape and market share, and the regulatory environment. These factors are analyzed under market opportunity assessment and feasibility analysis. The go-to-market strategy involves two key elements: Market entry strategy entails the assessment of strategic market entry/expansion options. These include forming alliances (trade), setting up own business, ...
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