To design an effective Go-to-market Strategy. I always start with how the particular industry is. Is it a profitable market? or Sometimes I get projects to identify problems in the existing market.
To find solutions, I work on the following framework to understand the industry first -
- Porter's five forces - It gives us a complete analysis of the industry and its competition, new entrants, suppliers, buyers, and threats of substitute products.
- Total Addressable Market - It helps in identifying the potential of the market, and later we can narrow it down to Serviceable Addressable Market, and Serviceable Obtainable Market.
- Business Model Canvas - This is to understand the business's start-to-end cycle. It really helps in digital transformation as it provides a complete understanding of the tech stack we need to work with bare minimum hurdles. Here you can find an example of BMW - https://solstice-hourglass-cd3.notion.site/BMW-Opportunities-Year2021-0765aa7c44534a3894eaa6590c91d888
Have any questions for me? Please feel free to reach out I'll be more than happy to assist you with utmost dedication.