Post on 14-Sep-2014
description
Go to market and
customer acquisition
strategy
Rahul Kapur
22 February 2014
Grant Thornton India LLP
Agenda
• What is go to market strategy
• A case study
• Questions
What is go-to-market? (GTM)
Go-to-market process is the
• Strategic and tactical aspects of delivering and supporting
a product or service offering in the marketplace
• This includes product specification, pricing, distribution,
marketing communications, sales, after-sales support and
customer experience management
GTM vs marketing strategy
• Go to market refers to activities surrounding the launch of
a new product or service
• marketing strategy can apply to any ongoing marketing
activities
What are the elements of GTM
Positioning
Product
Price
Place
Promotion
• WHOM will we actively target within the market?
• WHAT will be our product portfolio?
• HOW MUCH will we charge for our products?
• WHERE will we promote and sell our products
• HOW will we promote our product?
Case study 1: Mobile ka baap by Micromax
• A phone with 30 day battery back up was one of the first
handsets launched by Micromax in 2007
• Company's turnover in FY 12-13 is INR 3,168 Cr
The story of an invention…
What are the elements of GTM
Product
• can the product solve customer needs
• which features best meet these needs
• how will the customer use it
• how is it differentiated
feature loaded and first mover advantage…
What are the elements of GTM
Positioning
• The term positioning refers
to the consumer's
perception of a product or
service in relation to its
competitors
• Perception differs from
person to person, and
market to market
phone for the masses
(aspirational and masses)
Based on low price Based on endurance
Based on high price Based on time of day
Shift to capture smartphone market
and tier 1 cities – introduction of
Hugh Jackman as the brand
ambassador
What are the elements of GTM
Price
• what is the pricing strategy?
• what is the value of the product to customers?
• are there existing price expectations?
• how do we price relative to competitors?
• can you create a competitive advantage with the pricing model?
phone for the masses (aspirational and masses)
What are the elements of GTM
Place
• where do buyers want to purchase your product?
• what is the right distribution model?
• how do you develop the right distribution model?
• what types of support and services are required?
• can you create a competitive advantage using place as a
differentiator?
All over India – 125,000 POS
What are the elements of GTM
Promotion
• how do you reach the buyers and influencers of your target
market?
• what messages will motivate them towards awareness,
consideration and purchase?
The wrong way to GTM
Build product
Define
channels
Define Price
Define
Promotions
Ready Fire
Segway - disproved the axiom "if you build it, they will come"
• Did not appeal to consumers as the motorised scooter was pitched as an
alternative to automobiles
• The price point was too high to draw a mass consumer base.
• Instead of selling 10,000 machines a week, as Segway had predicted, the
company sold about 24,000 in its first five years.
Slightly better way to GTM
Ready Aim Fire
Build
product
Define channels
Define Price
Define
Promotions
Define target
markets and
positioning
The best way to GTM
Aim Ready Fire
Define target
markets and market
problems to solve
Define
channels
Define Price
Define
Promotions
Define
positioning
Define
product
Why a Go-to-market strategy is crucial?
• improves time to market
• reduces risk of failure and brand damage
• enhances customer experience
• establishes path for growth
• clarifies plan and direction for all
Case study 2: Muslin India
5 stores
Retail ops
Project ops Premium and
super-premium
brand reseller
Franchising in
3rd year of
Ops
Local and
global supply
chain
Setting up in
Dubai and
Singapore
home décor brand set up in 2009
What worked
1. defining the void in the market
• space for 1 more super luxury brand
2. product mix
• ethnic and ultra premium brands (zoffany etc.)
3. Premium pricing
• Sec A retail clients and star rated hotels
4. Small stores at posh high-street locations
• Swatches
Questions
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Rahul Kapur
rahul.kapur@in.gt.com
+91 124 4628029