|
| |
A go-to-market strategy is a plan to sell to a new target market. This can involve developing and launching a new product or brand. Alternatively, it can be a promotion or distribution plan to reach a new group of customers. The following are common types of go-to-market strategy.
Developing a new brand or brand extension for the target market. For example, a helmet company develops a new brand for white water rafters. A go-to-market strategy for a new brand can be complex including elements of market research, branding, promotion, operations, distribution, pricing and sales.
Developing a new product or service for the target market. For example, an insurance company that develops a travel insurance product for small business people who frequently travel on business.Reaching a new target market may be a matter of distribution of existing products. For example, an Australian food products company that develops a go-to-market strategy to reach supermarket consumers in South Korea.
Developing a target market with promotional messages alone. For example, a donut shop that would like to sell to the Chinese Canadian community in Toronto develops local advertisements in Mandarin and Cantonese.A go-to-market strategy can be a sales effort that involves developing leads and opportunities in a new segment. For example, a business software company that sells to large firms develops a go-to-market strategy for reaching mid-sized firms.|
| Type | | | Definition | A plan to sell to a new target market. | | Related Concepts | |
Marketing
This is the complete list of articles we have written about marketing.
If you enjoyed this page, please consider bookmarking Simplicable.
© 2010-2023 Simplicable. All Rights Reserved. Reproduction of materials found on this site, in any form, without explicit permission is prohibited.
View credits & copyrights or citation information for this page.
|
