From the course: Creating a Business Plan
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Build a go-to-market strategy
From the course: Creating a Business Plan
Build a go-to-market strategy
- Your business plan has to spell out your go-to-market strategy, both in terms of building awareness for your product or service as well as how you're going to deliver it. How are you going to reach your customers? What are the channels you're going to use? Again, to market to them as well as to deliver to them? Are you going to go direct? Are you going to go through distribution? How are you going to build awareness for your product or service? Will it be through partnership? Or licensing? Understand the economics of each of those channels. For example, distributors take a cut of what you sell. However, the benefit you get is they have distribution, and they can get you to market more effectively. Now, if you go direct to consumers with your product, you're not paying a distributor's cut but that doesn't mean it's free. You still have the expense of doing more marketing and getting the product out there…
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