Go-to-Market

Go-to-Market

DOI: 10.4018/978-1-5225-7155-1.ch005

Abstract

The importance of defining how to go-to-market is described in this chapter. Go-to-market (GTM) is the final step in the innovation process. It is the time of making money. The first part of the go-to-market plan (what is the target?) needs to be defined in your company's value proposition. Who will buy what the company sells? Why is the product or service better than the competition? The second part (how to hit the target?) can be built with a go-to-market plan. This plan is a roadmap for deciding how the entrepreneur will enter the market. What will be the price of the product, how many people will the sales team need, through which channels will the product be sold? One critical thing in the innovation is to understand if the time is right. For that, this chapter proposes a simple method using Porter's five forces.
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Step 10: Go-To-Market

Go-to-market (GTM) is the final step in the innovation process. It is the time of making money.

This step must start when the other steps are concluded and must follow the defined business plan (step 8). Most of the information necessary for planning the go-to-market is included in the business plan.

It is imperative to note that even in this last step, during it step 8 must be continually monitored and updated and sometimes step 3 must also be updated with new features, according to the market feedback.

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