Help needed!- Framework for New Product Intro Strategy

gotomarket issue tree Product introduction Product Manager
New answer on Jul 03, 2020
3 Answers
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StanS asked on Jun 26, 2020

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

(edited)

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Ian
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replied on Jul 03, 2020
MBB | 100% personal interview success rate (8/8) and 95% candidate success rate | Personalized interview prep

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!

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Anton
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replied on Jun 29, 2020
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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

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Clara
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replied on Jun 29, 2020
McKinsey | Awarded professor at Master in Management @ IE | MBA at MIT |+180 students coached | Integrated FIT Guide aut

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

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Ian gave the best answer

Ian

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