Expertise
A go-to-market strategy is a blueprint for providing products/services to the customer by delivering a unique value proposition. It involves achieving competitive advantage by utilizing inside and outside resources (e.g. sales force, distributors).
Several crucial questions have to be answered:
- How are competitors performing in the market, what do customers think of the different products or services available and what is missing in the market? What does a corresponding SWOT matrix look like?
- Does the strategy comprise all relevant functions (sales, marketing, pricing, brand management)?
- How is an alignment ensured between market entry strategy and the requirements of the existing business model, sales channels and current customer portfolio?
- Is the company able to develop the best capabilities industry wide (in respect of experts, processes, infrastructure) as necessary for a successful and sustainable market entry?
References
Go-to-market strategy for a paper producer in new business lines:
- Defining the target market and potential
- Analyzing the competition
- Defining the business model, unique selling proposition (USP) and specific product/service strategy
- Preparing the organizational (e.g. distribution and marketing channels) and operational market approach