Go to market strategy framework
The framework consists of 8 steps (grouped in 4 waves), which are driving the effort towards figuring out the most compelling go-to-market strategy as well as launching a new product or service eventually.
Please note that the grey color represents strategy building steps; the cayenne color represents product launch phases. I believe that separate those two is impossible, as the best go-to-market strategies are built with customers as well as products and services. Meaning the best strategies can't be developed inhouse solely or be delegated or be outsourced.
Designing and implementing go-to-market strategy requires going out of the office, co-creating the strategy with customers, and embedding extensive feedback into strategy assumptions. It's a healthy root system for launching a future product.
Here are the eight steps of the process:
WAVE 1: CAPTURE
Step 1 - Trends capture - the phase consists of a series of activities that focus on understanding the market trends.
Step 2 - Landscape capture - product managers need to have a full understanding of what happens in the landscape in which a new product or service will be launched. The landscape is more than only the competitors' scan.
WAVE 2: CHECK
Step 3 - Value Proposition (VP) design and test - customers and end-users expect powerful value proposition, not features. Step 3 answered the question of how to find a compelling value proposition (what customers' pains should be removed, what benefits should be delivered and how, what is the niche which will be served by VP), and make sure (test VP) it will resonate.
Step 4 - Business model design and test - it's the first step when go-to-market strategy mixes with a product launch. Go-to-market strategy guidelines are in place, and the strategy can be executed. At this stage, product launch managers focus on designing and testing the business model (growth streams, cost structure, distribution, resources). It's a first step in the whole framework where strategy mixes with the product launch.
Step 5 - Product/service design and test - at this stage working prototype (product launch) or framework (service launch) is available. It can be exposed to customers via various experiments.
WAVE 3: LAUNCH
Step 6 - Limited launch - after value proposition, business model, and product/service tests, it's high time for controlled launch. Product launch managers distribute products or services to a closed group of end-users in a strictly controlled way.
Step 7 - Complete launch - Step 6 provided technical and business feedback; now it's a time for a real launch.
WAVE 4: TRACK
Step 8 - Product managers control the new product performance by applying various metrics. It's a step that protects the company assets by shutting down quickly offerings that don't work.
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