GLOSSARY
Product-market strategy
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A product-market strategy outlines how a company's product will meet the needs of a specific market segment, guiding decisions on pricing, distribution, and promotion.
What is Product-Market Strategy?
A product-market strategy defines how your product will satisfy a particular market's demands, influencing pricing, distribution, and marketing decisions.
Why It Matters
Having a solid product-market strategy helps startups focus their efforts on delivering value to the right customers, increasing the chances of success and growth.
Examples
- Targeting a niche market with a specialized product
- Offering a low-cost option to attract price-sensitive customers
- Creating a premium product for high-end consumers
- Market Segmentation: Dividing the market into distinct groups based on needs and characteristics
- Value Proposition: The unique benefit your product offers to customers
- Go-to-Market Strategy: The plan for launching and promoting your product in the market