From the course: Create a Go-to-Market Plan

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Enter markets with a competitive advantage

Enter markets with a competitive advantage

From the course: Create a Go-to-Market Plan

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Enter markets with a competitive advantage

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- [Instructor] Once you've determined product validation and segmented target customers, you can consider new markets and your competition. Every company wants to enter the market with a competitive advantage. Here's how you can prepare for competition at launch. First, you must have a deep understanding of your competitors. Similar to how you've created customer segments, documenting important buyer information and characteristics, competitor profiles can be compiled. To accomplish these steps, gather planned data, which is your effort to set up opportunities to learn more about the competition. For example, setting up one-on-one interviews, questionnaires, and surveys are planned opportunities to query research. However, there are other types of research that offer insights without this type of planned advantage. You need to be cognizant of both. You can gather information from a variety of sources, including IDC…

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