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Do you know how to introduce your product to the market?
Do you have a clear strategy for attracting your first customers?
Do you know which channels will be most effective for distributing your product?
What is a Go-To-Market (GTM) Strategy and why do you need it?
- Accurately identify your target audience.
- Create the right message to attract them.
- Select the most effective communication and distribution channels.
- And ultimately, experience a more successful launch.
How does Platin help design a Go-To-Market Strategy?With a deep understanding of the market and customer behavior, Platin helps you design a realistic and executable roadmap for your product or service. Platin’s process includes the following steps:
Step 1: Business Assessment
In this step, the business is evaluated from multiple perspectives to determine its current position in the market. This includes assessing internal capabilities, organizational goals, and analyzing current business performance.
Step 2: Market Analysis
- Defining the Ideal Customer Profile (ICP) and Target Market SegmentationThe market is segmented into groups, and the segments with the highest potential for purchase and engagement are identified, usually based on six criteria:Demographic data: age, gender, job role, education, and social status.
Geographic data: country, city, and region of residence.
Buying behavior: purchasing habits, preferred channels.
Psychographic traits: values, motivations, and interests.
Customer loyalty and usage patterns: frequency of purchase, product usage, and loyalty level.
Needs and pain points: problems the brand can solve.
Touchpoints: media and content channels customers engage with. - Brand Positioning Analysis
Using tools like SWOT, the brand’s strengths, weaknesses, opportunities, and threats are identified. Brand capabilities and competitive positioning are also assessed. - Market Potential and Competitor Analysis
The market size and capacity are determined, and competitors are analyzed. Where statistical data is available, it is used; otherwise, market trends and shifts are studied.
Step 3: Product and Service Review
- Identifying competitive capabilities and advantages.
- Assessing potential threats such as declining market demand.
- Analyzing product gaps compared to market needs.
- Developing a Bracing Strategy to mitigate risks, such as competitive pricing policies or offering free trial versions to reduce customer risk.
Step 4: Defining the Ideal Brand Position and Goal Setting
Based on the collected data, the brand’s optimal market position is determined, and short-term and long-term goals for entry and market establishment are set.
Step 5: Defining Competitive Advantages
Strategic tools are used to identify the brand’s competitive advantages compared to rivals, and the market entry path is designed accordingly.
Step 6: Selecting the Niche Market
Based on the defined competitive advantages, the most valuable niche segment for entry is chosen. This ensures the brand enters the market with minimal cost and maximum return.
Step 7: Developing the Operational Market Entry Plan
- Marketing Strategy
- Sales Strategy
- Recommended distribution channels
- Suggested product modifications to optimize market entry
- Risk assessment for implementation
Step 8: Creating the Execution Plan
The operational plan is translated into a concrete execution roadmap, outlining actionable steps for implementing the GTM strategy. This enables the brand to enter the market step-by-step and achieve its set goals.
Platin is here to make your market entry simpler, more effective, and results-driven. If you’re looking for a professional, hands-on approach to introducing your product or service, get in touch with us.
