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Go-To-Market Strategies

8762 Words36 Pages

3. INTRODUCTION TO THE PROJECT-
3.1 Title of the project-

“Competitive Benchmarking of Trade and Product Go-to-Market strategies of leading telecom players.”

3.2 Go-To-Market strategy-
Go-to-Market(GTM) strategy refers to the set of integrated tactics which a company employs to reach their customers and make a connection. A company’s Go-to-Market strategy has become an important tool to improve key business processes. Through GTM strategy
A go-to-market strategy is a course of action that clearly lays down how a company plans to reach it’s customers and gain advantage over it’s competitors. A GTM strategy is very useful as it helps in laying down a roadmap which explains all the details regarding the delivery of products and services …show more content…

So in order to beat the competition and stay ahead of them, a comparative analysis of key competitors is a must. By doing so a company can not only build upon it’s strengths but also identify their weak areas. A competitive strategy helps in analyzing and comparing the strengths and weaknesses of their products/services with the best in the industry. Subsequently, comparisons of marketing strategies and other key business processes can also be made.

Competitive benchmarking is a type used with direct competitors. Done externally, competitive benchmarking’s goal is to compare companies in the same markets which have competing products, services, or work processes.

The essence of benchmarking is the process of identifying the highest standards of excellence for products, services, or processes, and then making the improvements necessary to reach those standards, commonly called “best practices”. The process of benchmarking is more than just a means of gathering data on how well a company performs against others. Benchmarking can be used in a variety of industries, both services and manufacturing. It is also a method of identifying new ideas and new ways of improving processes and, therefore, being better able to meet the expectations of customers. The ultimate objective of benchmarking is process improvement that meets the attributes of customer …show more content…

Most of the organisations are using the technique of benchmarking to help in effective management of projects. In benchmarking, one tries to identify the best practices in the market of competitors with the same category of products/services. This helps in improving one’s own market offerings by identifying gap areas which needs to be addressed. Benchmarking has become one of the most important tools to measure and gauge the performance of companies and help in creating an environment of continuous improvement from learning best management

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