go-to-market-strategy

Vocabulary Word

Definition

A 'go-to-market strategy' is a company's plan for how it will sell its products or services to customers. It's like a recipe for making sales: what are the ingredients and steps necessary to make customers want to buy?

Examples in Different Contexts

In the retail industry, a 'go-to-market-strategy' might revolve around store placements and promotions. A brand manager could say, 'Our go-to-market-strategy emphasizes shelf visibility and seasonal discounts.'

Practice Scenarios

Business

Scenario:

We have a great product ready for launch. The next step is to formulate a successful sales and marketing plan.

Response:

Agreed. This is where we need a sound go-to-market strategy to guarantee a successful product launch.

Marketing

Scenario:

Our market research indicates a growing interest in eco-friendly products. We should consider how best to position our new product line.

Response:

That's a great point. Our go-to-market strategy should emphasize the eco-friendly aspect of our new product line.