Building a strategy for new market entry

The route to market can be challenging if you are planning to launch a new product and want to assess the feasibility.  Sharing my approach to help you maximize the value of a portfolio or proeucts identified through a combination of analysis and research to drive the phased approach to go-to market. 



#1 Market Landscape Assessment

Start with initial research on the overall size, market trends, etc., for the local and global market. Consider options for application spaces that are critical for successful launch such as Personal Care, automation, Industrial & Institutional, etc. As part of this also learn what is the  pricing strategy applied if there are any competitors in the space and their perceived value.

#2 Market & Customer Research Immersion

Build a view based on the review of market opportunity and create insights stemming from primary and secondary research. Identify an application space that emerges as a clear leader with promising sub-applications. Implications can be related to desirability, behavior, drivers, and barriers that can be used to generate initial go-to-market value propositions. 

#3 Strategic Choice Resolution

Develop discrete strategic options for application space technology options. Leverage the Strategic Choice Cascade to narrow options to two application spaces by identifying “where to play” and “how to win” decisions. 

#4 Strategic Partners

Identify and assess high-potential partnerships and strategies required to address capability needs and deliver on initial value propositions. You should consider both the positive and negative implications of partner options.

#5 Build Go-Forward Design/Plan

Review the final value proposition (including desirability, feasibility, and viability) for the selected strategic options, partnerships, and commercial model. Build a high-level roadmap to launch for the products with expected outcomes across the phases. 

#6 Advertising Channels

Identify advertising channels depending on where your audience are present and how much you want to spend. Social media is a very import channel in this new age specially if you have products for young audience.


Building a balanced strategy for go-to-market

From my learnings the market size only impacts the “viability” aspects of a balanced go-to-market strategy, however “desirability,” and “feasibility” must also be considered when building a comprehensive strategy -

 #1 Viability

• How can we create clear and meaningful value and growth?
• Is there a sizeable addressable market with adequate growth?
• Do we have brand permission to solve this particular need?
• Can we win in this space in an acceptable time frame?
• Will this be a big opportunity cost if we don’t do this right now?
• Can a defensible position be developed in this space?

 #2 Desirability

• How can we ensure new offerings are deeply relevant and compelling to key customers in the value chain?
• Does it address a persistent trend in the market?
• Is there evidence that consumers are interested?
• Does it allow us to solve significant unmet needs?
• Will this create value for our customers?
• Will a consumer pay for a solution in this space?

 #3 Feasibility

• What is your organization well-suited and well-positioned to do with current—or extending with new—capabilities?
• Do we have or can we access the necessary technology assets and capabilities?
• Do we have or can we access the necessary people assets and capabilities?
• Can we overcome internal behavior change needed for this to succeed?
• Does this play well versus our risk tolerance?
• Will we have executive support to explore concepts in this space? 

Make strategic choices to support your "Winning Ambition" in the market based on application space and very important to build a collective agreement around a unified go-to-market strategy within the organization.