Go-to-Market Strategy for an innovative cook stove product
The client, a global conglomerate operati
ng in the home appliances sector, was looking to launch a new-age cook stove product targeted at bottom of the pyramid in India.
Problem Statement
We were engaged to recommend a go-to-market strategy for their new cook stove product and identification of channel partners for the execution phase which involved:
- Market assessment of opportunity
- Recommendation of the go-to-strategy market strategy
- Explore potential partnerships for execution which align with the client’s requirement
Action Taken
- Gathered insights by analyzing the market, competitor and policy landscape from secondary market research and previous primary customer surveys
- Conducted a SWOT analysis of the product and its substitutes
- Designed the business approach, pricing structure, and sales and distribution strategy
- Designed the organizational structure to facilitate the product launch and market expansion
- Designed RFP to scout for market research agencies, facilitated distribution and logistics partnerships and reviewed existing distributor agreements
- Assisted in pilot launch and establishment of a lean sales team supported by distributor’s organisation
Deliverable
- Recommended a go-to-market strategy including pricing, distribution strategy, organizational structure and way forward
- Our recommendation enabled the client to identify potential external partners, evaluate the business model and smoothen the product launch