Commercialising a New Product or Service

"it really is a global market place "

"you deserve a fair share

of the value created”

 

Commercialising a new product or service is difficult.

  • It nearly always costs more and takes longer than expected.

  • Often,  the more successful you are the more quickly you run out of cash.

      A careful, practical strategic approach is essential

 

The GTS approach includes looking carefully at:

 

Understanding the market

  • What are you unique selling propositions

  • Is there really a need

  • The target market, sector and geographically, is it really attainable

  • How big is the market in your targeted zone, who will you complete with, what market share do you want

  • Do they have the ability to pay

 

Your product or service

  • Is your product really market fit and appropriate

  • Re there regulatory issues are to consider

  • Will there be duties or taxes to consider

  • Are there freight issues to consider

 How will you approach the world

  • Where do you plan to aim at, why

  • Prioritising resources and effort

  • Positioning; how and where will you fit in the market

  • The pricing strategy, and can it be competitive anyway

  • Your branding strategy

Distribution

  • What will distribution look like. Will you sell direct, through an agent or distributor. What are the cost implications

  • Will your distributor really work for you

  • Losing control

  • Avoiding stranding your IP

  • How will you ensure your customers have a good experience with your product

  • Distribution agreements and licensing

 

Intellectual property protection and strategy

  • NDA’s

  • Trademarks

  • Patent or not

  • How soon will you be copied

 

Supply and funding

  • Can you maintain supply and quality

  • Is your product actually production ready

  • When will it be cash flow positive?

  • Who will fund your growth in capital requirement

  • Should you consider licensing

 

Also

  • Getting a good plan

  • Preparing a budget forecast

  • Who will go do it

  • What don’t we know

  • What do we need to find out

  • What are the hurdles

  • What are the key critical success factors

  • Will it be fun 

 GTS -Global Tactics + Strategies Ltd  I  Christchurch  I  New Zealand     

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