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Bwc gtm

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Go-to-market strategy for entering international markets

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Bwc gtm

  1. 1. GO-TO-MARKET STRATEGY BWC-2014
  2. 2. 90 DAY GTM ACTION PLAN 1. Identify and document internal go-to-market activities, beliefs and priorities 2. Conduct market and customer analysis 3. Conduct go-to-market competitive analysis 4. Assess findings; go-to-market options, limitations and priorities 5. Review conclusion with set holders and set direction 6. Develop 12-15 month go-to-market implementation plan
  3. 3. 1. IDENTIFY AND DOCUMENT INTERNAL GO-TO-MARKET ACTIVITIES, BELIEFS AND PRIORITIES • • • • • Markets Customers Products Channels Value proposition
  4. 4. MARKETS 1. Product markets today? (Geographical, verticals - product/services) 2. Future market/segments targeting and why? 3. Any markets we are planning to exit, why?
  5. 5. CUSTOMERS 1. Why existing customers do business with us? 2. How do they do business with us? 3. How well do we understand their needs? 4. Feedback/advise received from customers on our product/strategy? 5. Future customer/accounts definition
  6. 6. PRODUCTS 1. Current product offerings ? 2. Best selling offerings? 3. Least selling offerings? 4. Customer’s demand towards product/offering? 5. Future direction for product/offerings
  7. 7. CHANNELS 1. Existing market coverage strategy (channels/products/customers)? 2. SWOT analysis of current approach 3. Future channel strategy for new markets
  8. 8. MESSAGE 1. Value proposition for customers/markets? 2. Product promotion strategy 3. Sales pitch effectiveness in current and future scenario 4. Research behind current sales pitch
  9. 9. 2. CONDUCT MARKET AND CUSTOMER ANALYSIS Four Basic pitfall of target marketing you want to avoid • Chasing untried and unproven “Blue Sky” markets • Putting too much weight on third party market research reports • Assuming a growing market or big market will be good for your product • Ignoring crucial internal sources of information when evaluating new markets
  10. 10. SIX-STEP PROCESS FOR TARGETING NEW MARKETS • 1. Develop universe of markets : Define potential new markets based on geographic, vertical, horizontal or customer base. Eliminate bad apples using3 simple steps • A. No need for Product or Services • B. Prohibitive entry Costs • C. Legal or regulatory restrictions Divide list into smaller sub-markets/segments for precise targeting
  11. 11. SIX-STEP PROCESS FOR TARGETING NEW MARKETS • 2. Choose Market evaluation criteria a. Market Size b. Market growth rate c. Brand leadership d. Cost of market entry e. Cost to serve f. Channel availability g. Competition density h. Strategic fit
  12. 12. SIX-STEP PROCESS FOR TARGETING NEW MARKETS • 3. Evaluate target markets against criteria Baggage handling Inspection equipment ** Food processing Medical Industry *** MRI equipment Machine tools Semiconductor industry Bottle labelling * ** Market Size Market share * Cost to enter Brand leadership *** ** *** ** Competition density Strategic fit *** ***
  13. 13. SIX-STEP PROCESS FOR TARGETING NEW MARKETS • 4. Validate markets with key prospects : Interview with key prospects in each potential markets to ensure that there is strong buying interest and demand for your product offering
  14. 14. SIX-STEP PROCESS FOR TARGETING NEW MARKETS • 5. Prioritize markets for penetration: • • • • Immediate sales opportunities Reach using existing channels/partners Entail low startup costs Lesser market hassls • 6. Fine tune markets over time : Revisit assumptions
  15. 15. CUSTOMER ANALYSIS • Customer needs • Customer experience • Customer buying behavior • Strengths and weaknesses • Sources of new business
  16. 16. 3. CONDUCT GO-TO-MARKET COMPETITIVE ANALYSIS • Analyze market targeting, segmentation and penetration efforts of your leading competitors by focusing on their Markets and customers channel usage Market coverage model GTM results
  17. 17. 4. ASSESS FINDINGS; GO-TO-MARKET OPTIONS, LIMITATIONS AND PRIORITIES • A. Identify the best GTM opportunities • Define best new opportunities to drive sales? • Identify markets/segments to achieve short-term wins/long-term customer penetration? • Identify customers ready to do business? • Locate effective channels to serve customers? • B. Identify GMT limitations • Which products/markets/channels are NO from management’s perspective • Identify markets with unacceptable entry costs • Identify products, services or solutions failing to generate interest
  18. 18. ASSESS FINDINGS; GO-TO-MARKET OPTIONS, LIMITATIONS AND PRIORITIES • C. Develop new GTM scenarios • A Go-to-market scenario is a complete package of market, customer, channel, product and value proposition • D. Develop a business case for your top GTM scenarios • Impact on profits, markets share, sales, time and resource requirements
  19. 19. 5. REVIEW CONCLUSION WITH SET HOLDERS AND SET DIRECTION • Overview: purpose and scope of initiative • Major findings from GTM analysis covering markets, customers and competition • Overall assessment of market situation, opportunities and priorities • Discuss each GTM scenarios and impact on customers, products, markets and value proposition
  20. 20. 6. DEVELOP 12-15 MONTH GO-TOMARKET IMPLEMENTATION PLAN Battle Metaphor for new business development Select Targets Create and deploy weapons Plan and execute the attack Thank you Sam Aghi

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