A comprehensive plan that outlines how a company will launch a product or service into the market to reach target customers and achieve competitive advantage. This strategy encompasses various elements including market research, target audience identification, value proposition, marketing and sales tactics, distribution channels, and pricing strategy.
A GTM strategy is designed to ensure a successful product introduction by addressing the needs and preferences of the target market, positioning the product effectively against competitors, and defining the steps necessary to generate awareness, demand, and sales. It involves cross-functional collaboration among marketing, sales, product development, and customer support teams to align efforts and maximize the impact of the product launch.
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