I have to design a framework to guide the go-to-market strategy based on factors such as market relevance, share etc

Final Round presentation technology
Recent activity on Dec 03, 2018
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Neha kumari
Skilled
asked on Dec 03, 2018

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Sidi
Expert
replied on Dec 03, 2018
McKinsey Senior EM & BCG Consultant | Interviewer at McK & BCG for 7 years | Coached 300+ candidates secure MBB offers

Hi Neha,

it is indeed extremely important to carify the objective and verify the precise question of the client! Is it about whether to initiate the go-to-market, or is it about how to initiate the go-to-market? Assuming it is the second, here are a couple of considerations:

Go-to-Market Strategy is focused on how the organization will put offerings into the market to reach market penetration, revenue and profitability expectations. This impacts all functions within an organization with the goal of preparing the entire company for market success. Another key point to stress is that GTM Strategy is not an event, i.e., a product launch. GTM strategy is focused on the entire product lifecycle — from concept to grave!

A pragmatic set of key questions to adress looks as follows (this could be the pillars of your framework):

  1. What are you selling?
  2. Who are you selling it to?
  3. How will you reach your target market?
  4. Where will you promote your product?

WHAT? To begin to answer these questions, it’s very important that you have a strong value proposition as it will help you begin to identify your target market. Clearly outlining this value proposition constitutes the base of your GTM strategy.

WHO? In most cases you need to segment the market with easily identifiable criteria and outlines how to refine your target to fit with your value proposition.

HOW TO REACH? Once you know your target market, you must plan how you will reach them. What are the various potential channels to reach your customers and the factors to consider in the channel selection process? What do you need to keep in mind to build a high-performance sales team, for both direct and indirect channels?

WHERE TO PROMOTE? The final step is getting your message out with a strong promotion plan. This might include notions such as a positioning statement and working out options for efficient and effective marketing channels for your target audience.

Hope this helps!

Cheers, Sidi

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Vlad
Expert
Content Creator
updated an answer on Dec 03, 2018
McKinsey / Accenture Alum / Got all BIG3 offers / Harvard Business School

Hi,

I recommend starting with clarifying the objective - Which metrics you need to achieve with the product? Then I will follow up with the structure:

Analyze the market:

  • Size and growth rates
  • Segments (geographical, customer, product)
  • Distributors / Suppliers
  • Regulation
  • Key market trends

Analyze our product:

  • The value proposition of a product (Core / non-core features),
  • Different use cases for the product (Business / private / government, etc)
  • Unit economics (Current unit costs and costs in relation to scale, Investments, ROI targets, Competitor / substitutes pricing)
  • Key capabilities to compete (Patent, distribution, etc)

Analyze the competitors:

  • Market shares, growth rates, profits
  • Product / customer / geographical mix
  • Products (Value proposition)
  • Unit economics (Value proposition vs. price vs. costs)
  • Key capabilities (Distribution, supply, assets, knowledge, etc)

Go-to-market strategy:

  • Channels
  • Time to market
  • Branding
  • Costs, benefits, and investments

Best!

(edited)

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Sidi gave the best answer

Sidi

McKinsey Senior EM & BCG Consultant | Interviewer at McK & BCG for 7 years | Coached 300+ candidates secure MBB offers
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