GO-TO-MARKET STRATEGY (GTM)
What is a go-to-market strategy?
A go-to-market strategy is a plan that explains how a product will be promoted, how it will reach its intended customer, how they will buy it, what they will pay, and how they are supported after sales, as well as the specific roles played by any distribution, fulfillment, or sales partners.
Who needs a go-to-market strategy?
A go-to-market strategy is needed by anyone who needs to launch a new product into an existing market, launch an existing product into a new market, or test the growth potential of a new product.
Why do innovators need a go-to-market strategy?
A go-to-market strategy is essential to the success of an innovation as it describes the actions that need to be taken to support the adoption of a product by a customer. Corporate innovators often struggle with this step as the go-to-market strategy for a new or emerging market is often fundamentally different from that of an existing, mature market.