Developing a go-to-market strategy is the third step in a 3-step approach—the first two steps entail identifying a lucrative target market and developing a unique customer value proposition. Specifically, it involves determining the activities and resources required to successfully deliver the value proposition to customers, and to achieve competitive advantage for the business. Resources in this context are typically those that are directly or indirectly responsible for delivering the customer experience and bringing products and services to market. While exact components of the strategy can differ by company and industry, they typically include factors, such as product, pricing, channel, distribution, marketing, sales, and customer service.
Within these dimensions, there are choices that must be made. For example: