DEFINE THE TARGET MARKET CHOOSE A PRICING STRATEGY
This should be a set of characteristics that You can analyze what competitors with describe the organizations you plan to sell to similar products are doing to gain initial including, industry, location, size, status and pricing strategy ideas, but your pricing performance. The market can consist of model should be built around the value either existing customers or a new market. that your product provides to your customers while maximizing profitability.
UNDERSTAND YOUR BUYER PERSONAS DETERMINE PURCHASING METHODS
Buyer personas are a representation of what Consider the ways someone could your ideal buyer looks like. What roles do purchase your product and become a they have? What does their day-to-day look customer. Can they sign up for a trial or like? What challenges do they face? How demo? Is there a free version of the does your offer help them solve their product? Will you provide a consultation challenges and achieve their goals? or assessment?
CREATE A VALUE PROPOSITION MARKETING AND SALES STRATEGY
Your value proposition is a pledge of what Determine the ways you plan on will be delivered, experienced and acquired educating your target market about your by a prospect when they become a new offer. This will be heavily dependent customer. It should clearly convey why they on whether you are targeting existing should choose you over a competitor. customers or new markets.
IDENTIFY KEY COMPETITORS LAUNCH
Assess the strengths and weaknesses of Once you have gone through the seven current and potential competitors. This will items on this checklist, you will be ready uncover opportunities to differentiate your to introduce your new product or service. product or service from theirs in the minds of Take a deep breath, don’t panic and your consumers while mitigating possible launch! threats.