The plan of an organization to offer their specific value proposition to consumers and gain competitive advantage using both internal and external resources (e.g. sales force and distributors) is known as go-to-market or go-to-market strategy. A go-to-market strategy's ultimate aim is to improve the overall consumer experience by providing a better product and/or more efficient pricing.
The organization must perform an accurate definition of the target market in the early stages of designing a go-to-market plan for a new product or service. The business must determine if it already has potential clients within its client base that are using various services. Following the definition of the business, the product or service is researched before a definitive judgment on the value proposition is made. The organization then decides on its pricing policy. When pricing strategies vary from one product or service to the next, or even when the product or service stays the same but the policy shifts, such as transitioning to subscription-based pricing, it can be difficult to determine. The driving factors in a go-to-market strategy include customers, company, and competition. Market segmentation is often used in a go-to-market strategy. Market segmentation is the method of dividing potential consumers into distinct classes (segments) with similar needs and planned responses to marketing actions. Some common factors considered when performing a market segmentation include industry, customer behavior, geography, use of the product or service, etc.
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