Not everyone likes doing homework. I did. My sixth grade son does not. It takes a mixture of threats, bribes, cajoling and nagging to get him to do his homework when he gets home instead of reaching for the X-men action figures–which let’s face it are much more fun.
As marketing people we’re often tempted to dive into a new product launch or market segment before we’ve done the homework to make sure it really makes sense for our business.
So to help you resist that temptation, I’ve drawn up some homework assignments for you. I will be handing out assignments on a regular basis. When you’ve completed these and determined that a product launch really does make sense, we’ll get to the fun business of putting together a Go To Market plan.
Go To Market Homework – Assignment 1 – Show and Tell
“Bring” your product to the next team meeting and be prepared to answer the following questions about it:
a. What value does it bring to your target audience?
b. Can you really differentiate yourself enough from the competition to break in?
c. What is your differentiation strategy–functionality, price, service, convenience etc.?
Be sure to capture in writing what you said…and what you learned from the team about your product.