Guest speakers from VISA gave us very good insight on how to take our product to market. The following eight steps were highlighted as foundations to formulate a market entry strategy.
1: Be clear about your customer & Target Market
2: Understand the best distribution method
3: Know the Decision Maker
4: Tailor you message
5: Avoid competing on price
6: Think USP be prepared to work on a trial basis
7: Exceed Expectations
8: Measure, evaluate and learn.
Currently we are focusing on B2C sales in order to gain customer feedback that will be used to improve and enhance our understanding of the real critical success factors that our customers value about our product. The features and benefits that converts a “hummm its alright” to “DAMN, THAT PRODUCTS GOOD!” By understanding what our customers truly value about our product we boost our ability to deliver on step four, five and six.
Once we understand what our customers love about our product, we plan to roll out our cooperate sales strategy. Forming a B2B sales team that sells the ICE CAP to businesses as a marketing material. By listening to our customers we will be able to persuade the corporate decision maker on why we add value to their marketing strategy. Delivering a knock out sales pitch on our USP’s and critical success factors combined with evidence that the general consumer loves our product backed and strong B2C sales figures; How could the decision maker turn us down?
By understanding how our product has an effect on all stakeholders such as the procurement officer, marketing manager and the businesses target audience we give ourselves the tools to effectively tailor our message. Depending on who we speak to this message can be tailored to have maximum impact using a 12 pound glove of persuasion filled with real consumer feedback. It improves our chance of a sale once we have identified who the real decision maker is.
Step Five, Six & Severn
when we have identified what makes us so special we give ourselves better odds at delivering on step Five, Six and Severn. We build our confidence and enthusiasm that can be used to deliver a passionate pitch on why our product is the best and why we don’t have to compromise on price to gain their business. We will be able to convince the decision makers that our product is better then anything out their, by showing our depth knowledge and understanding on how our product truly impacts on their stakeholders.
Although today hasn’t pinpointed everything we need to know about how we actually take our product to market. it has given us the tools to be build a strong foundation of which to work from.