Go to Market Strategy
A comprehensive business plan to bring your new product or service to market is essential for success. Constructing a Go to Market Strategy can ensure a successful product or service launch because it anticipates challenges ahead and creates contingencies.
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What is a Go to Market Strategy?
Go to market strategy is a plan that details how a company will execute on its business plan. The plan outlines the company's overall marketing and sales approach, including product positioning, target markets, channels of distribution, and pricing. The goal of go to market strategy is to ensure that the company has a clear and concise plan for marketing and selling its products or services. An efficient Go to Market Strategy should be adaptable to client feedback, manufacturing needs, or to reduce costs.
Why is Go to Market Strategy Important?
Go to market strategy is important because it provides a roadmap for your business. The goal is to introduce your new product or service to audiences for best return of investment. These market plans provide solutions, expectations, and contingencies during launch.
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What to Include in Your Go to Market Strategy
For a successful go to market strategy to improve audience, conversions, and return of investment, our brand consultants advise the following to include :
Target Audience
Go to Market strategies help determine target audiences for your product. Strategic marketing to target audiences can help improve the return of your investment.
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Product Positioning
Product positioning is how you want your product to be perceived by your target audience. It's important to consider how your product fits in with the competition and what needs it meets for your target audience.
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Channels of Distribution
Your channels of distribution are the methods you will use to get your product or service to your target audience. There are many options for distribution, including online, brick and mortar, or wholesale.
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Price
Depending on manufacturing needs and target audience , price is one of the most important determining factors before you go to market. This not only determines value but branding as well to attract customers.
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Competitor Analysis
To execute a successful go to market strategy, one should conduct competitor research to stay ahead of opponents. This could include market research, customer experience, lead generation, and more. Evaluating your competitors’ successes and failures can give insight on how to implement your own strategies.
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Marketing Tactics
There are many ways to market your product. Tactics could include paid advertising, influencer marketing, content marketing, search engine optimization, or email marketing.
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Contact our Go to Market Consulting Professionals
Need efficient go to market planning to help construct a successful framework for a product or service launch? Our performance market consultants take everything into account including your business goals, team, costs, and competing market to have a winning strategy. Contact our marketing consultants to learn how our experience and expertise can work for your business.
Partnering with MPG
MPG will partner with you to accelerate growth by bringing insights to action through best-in-class analytics, enhancing promotional ROI and expediting distribution gains and protecting the base business. MPG offers outside the box thinking to help you drive share growth, improve customer penetration, strengthen retailer partnerships and align brands with strategic priorities.