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Putting Your Product on the Fast-Track to Success: The Importance of a Go-to-Market Approach in Your Marketing Arsenal
From:
Capitol Communicator -- PR News in Washington, D.C. Capitol Communicator -- PR News in Washington, D.C.
For Immediate Release:
Dateline: Washington , DC
Tuesday, January 08, 2019

 

By Robyn Sachs, President and CEO of RMR & Associates

Integrated marketing approaches have skyrocketed in popularity over the last several years, for a largely two-fold reason:

  1. Their emphasis on matching the vehicle to the goal enables a more efficient, results- driven process focused on specific needs.
  2. This process leverages an organization’s budget to ensure they are receiving the ultimate “bang for their buck.".

While integrated marketing approaches can and should be implemented at several stages of a company or product’s evolution, one critical phase is in the early days of a market launch, entry and growth. Known as a “Go-to-Market Strategy.", this process combines key elements of integrated marketing to deliver a comprehensive, structured plan designed to achieve maximum success.

So, how does a Go-to-Market approach work? And, for whom does it work best?

First, it’s important to note that the elements of a Go-to-Market initiative can be put into practice for companies and products at all stages of development; from emerging enterprises and start-ups to established organizations. In terms of key activities, part of what differentiates a Go-to-Market approach from other market entry plans is the systematic structure behind it, along with the extensive market research and positioning, vetting, and strategic elements that use a process-driven approach that draws on leading industry best practices. This “Business Case." focus allows organizations access to a large amount information, with appropriate targeting, to ensure they are as prepared as possible to achieve success and market growth.

A typical Go-to-Market plan consists of five phases, which may be tailored to a specific company or product’s needs, current market position and future goals. These include:

  • Phase 1 – Internal audit of existing systems, infrastructures, and initiatives;
  • Phase 2 – External market research and competitive analysis activity to determine market position, differentiating qualities, and growth opportunities;
  • Phase 3 – Market segmentation and targeting analysis;
  • Phase 4 – Implementation, planning and development; and
  • Phase 5 – Development of a comprehensive business plan and financial models.

These phases will determine key product value propositions and maximize market position based upon competitive assessment analysis, answering key questions such as:

  • What is the relative value of the company’s current product set compared to competitive products, substitutes or “client integrated." solutions and customer demand?
  • What is the recommended pricing and channel environment?
  • What is the anticipated competitive position/response of rival products?
  • What is the best pricing strategy based upon market demand and/or what could be provided by competitors?

This strategy will optimize market receptivity by utilizing efficient market targeting and customer acquisition, while driving high growth revenue for the company’s initial product offering or re-launch.

About RMR & Associates

Headquartered in Rockville, MD, RMR & Associates, Inc. (RMR), a Capitol Communicator sponsor, has been addressing the unique needs of clients serving commercial, B2B, B2G, B2C, government, non-profit, financial services and IT sectors for more than 25 years. RMR’s integrated marketing includes public relations, social media, digital marketing, advertising, direct mail, media buying, list rental, website design and interactive marketing. RMR’s unique national experience and knowledge base has helped to build an extensive network of key contacts among venture capitalists, key organizations and key business leaders. With more than 500 product and company rollouts and repositionings, RMR has garnered results for local, national and international clients such as AOL, Insoft Corporation (acquired by Netscape), Telogy Networks (acquired by Texas Instruments), and consumer accounts such as Subway, .ORG, the Public Interest Registry, AAFMAA, and Vonage.

For more information on RMR, please contact Tim Wright at RMR & Associates, Inc., 5870 Hubbard Drive, Rockville, MD, 20852, by phone at (301) 230-0045 ext. 400 or by e-mail at twright@rmr.comGeneral information can be obtained by accessing the Web site at www.rmr.com. You can also find out more about RMR on our Facebook Page (https://www.facebook.com/rmrassociates) or our Twitter Page (https://twitter.com/rmrassociates).

 
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