Help needed!- Framework for New Product Intro Strategy

Question

Hi Folks, I am working on a case where the company had decided to design & develop a product (now ready), now I have inform " how can we introduce the product in the market" a.ka. what should be the go-to-strategy.

This is the framework/Tree branches I have come up with: ( please share your thoguths - I'd like to improve/modify to know how this level of product intro framework should work, as I have just begun using these frameworks)

1) What is the Market Size:

- $$ Value

- What are the drivers of the growth?

- What stage is the market in?

2) Who are the customers/Segments?

- Corporate (what type of corporates)

- Non-corporate (who are they & why do they need this product)

3) What is our offering include?

- Hardware (How does it stack up against competition)

- Software (How well does it stack up aginst competition)

4) What are the competition offerings?

- What is the competition ( Direct & Indirect)

- How does the competition position their offerings? (how can we distinghuish ourselves)

5) Reaching the customer

- What are the exisiting distribution/promotion channels

- Can we create a new one?

6) Pricing ( do I need to add this?)

Thanks in advance for your help!!

Stan

Answer 1

Hi there,

I think it's pretty good.

However, you have to remember that it totally changes based on the prompt.

What industry are we in? Where are we located? How big are we as a company? Have we done this before? What is our objective in introducing this product (i.e. is it to grow profits. revenues, market share, etc.)? Is this a new product in a new market? Or a new product in a market we know about?

^Answers to all the above totally change your focus, and therefore change your framework!

Answer 2

Hello!

This is the typical go-to-market case. If you look by that name, you will find plenty of examples and tricks for these family of cases.

Cheers,

Clara

Answer 3

Hi,

I would suggest that you should use the following framework:

DESIRABILITY

target customer segments
acquisition and service channels
product

FEASIBILITY

organizational structure
processes
people and human capital

VIABILITY

breakeven analysis
risks involved (PESTEL)

Best,

Anton