Go to market (GTM) strategy
Ah, well, what do you know. We are now at this point where we have to define the name of the place where we define things. While our go-to-market glossary centres around the same general idea, it's not exactly the same as a go-to-market strategy.
But you knew that already, right?
A go-to-market strategy (GTM strategy) is an action plan outlining how a business can meet target consumers and gain competitive advantage.
The aim of a GTM strategy is to provide the end-customer with a blueprint for delivering a product or service, with consideration given to factors like pricing and distribution.
The GTM approach is very similar to the business plan, but it is wider in nature and incorporates additional considerations such as financing.
Organizations may use a go-to-market strategy for a variety of activities, including the launch of new goods or services, the expansion of an existing product into a new market, and even the relaunch of the company or brand.
The GTM strategy will help a company explain why the product is being launched, understand who the product is about and develop a plan to connect with the consumer and encourage them to purchase the product or service.
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