‘Go to market’ strategy

‘Go to market’ strategy


You are working on developing a new product in highly competitive market. You have invested heavily in developing the product. You have set up research and development. You have invested in excellent machinery/tools. You have also set up supply chain for best in class raw material. You have hired best engineers who are experience and know the industry well. Still you are having sleepless nights! The common reason is you are missing the important piece of your new product launch jigsaw puzzle – that is ‘go-to-market strategy’.

Three important components of go-to-market strategy are:

    1. Focus – There are numerous ideas you can incorporate in a product, development process, and so on. You will also need to focus on specific customer segment, communication medium, and customer education.

Remember that sunrays also become powerful when you use magnifying glass to focus their energy to burn a simple paper.

    1. Documented plan – You will not construct a house until the architect has given you a design of the house on a paper. Similarly, you cannot just have a plan in your mind – you need to document it.

Remember that a country like Greece also had to submit a documented plan to get funds to come out of bankruptcy.

  1. Expertise – The most challenging component is getting the expertise required to design go-to-market strategy. Some companies may have in-house expert. Some companies need hire expertise for a specific period. In case you are looking for marketing consultancy in Pune, you now know whom to contact!

For a sport person to become successful needs a coach. A coach may not be a well known name but coach will make sure that you become well known!
Imagine that you are developing new healthy biscuits. You have an experience in working with the biscuit raw material supplying company. On own you are going to manufacture and market the biscuits. You have already invested in manufacturing plant. You have it designed from an experienced plant designer. You have the excellent machinery for each process in the plant. You have hired an experienced plant manager who has experience in working with known biscuit brand. You have shortlisted few people whom you will recruit in sales. Now what is missing is the – ‘go-to-market’ strategy. You will need to hire expertise of a marketing consultant in your region. If your primary market is going to be Pune and surrounding area, you will need to hire expertise of a marketing consultancy in Pune.

I will look forward to your feedback.

Regards, Sachin Mohan Bhide, PhD Marketing Strategy Consultant Eha Management Consultancy

This communication shall not attach any liability on the originator or Eha Management Consultancy. There is a possibility that I may have noted some point incorrectly. It is advisable to double check the points before you take any decision based on it. I don’t represent any industry association, chamber of commerce, etc.

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