Go-to-market is a plan that defines how a company might engage with customers in order to persuade them to acquire their product or service and obtain a competitive advantage.
The go-to-market strategy involves developing and executing an effective marketing plan to bring products to customers. There are three important steps in this process:
- Developing a product strategy,
- Developing a pricing strategy, and
- Developing a distribution strategy.
The first step is to develop the product strategy. This includes researching the market and determining what features customers want in your product, determining what your competitive advantage is, and determining how you will price your product.
The second step is developing the pricing strategy, which includes researching competitors' prices and setting prices accordingly, as well as considering whether or not you should offer discounts or incentives for purchasing your product.
The third step is developing the distribution strategy, which includes deciding how you will sell or distribute your products to customers, including online or in-person sales strategies such as brick-and-mortar stores.