A Capstone Experience (Better Ways to Get to Market: Formulating a Strategy that Works) 3 - Assignment Example

Better Ways to Get To the Market Every company has set some goals to ensure that it maximizes profits for the growthof the company as well as build rewards for shareholders. This is done by development of a Get-to-market strategy. This strategy requires a plan that the company can enter a market niche against it competitors. However, the process should be structured to ensure that the framework is implemented and this is through three important elements. The first element includes developing an action plan, when it should be done and how it is to be done.

The second element is responsibility of each and every member. These roles should be relatively defined so that no duty is duplicated and every member performs his/her duty. Lastly is allocation of resources, monitoring and evaluation of the strategic plan (Brown, pope, 2008)New products are important in every organization. They help in the maintenance of an organization’s growth, protect consumer interests and keep the company competitive in its market niche. However, at some point, new products might not be successful according to the company’s expectations.

This is because the product was good but the strategy used was not good enough. Nevertheless, the product was not good enough even if the strategy used was good (Lord, 2000). Some of the mistakes some company make are that the market was not strategically surveyed. Therefore, the consumers did not appreciate the product due to poor quality or the quality was good but pricing was unaffordable for the target market. Branding is another problem that most companies have. This is because after re-branding a product, the company did not proper advertise or the product did not meet the consumer’s expectations in regard to it market field (Rackham, 2006).

ReferencesBrown, G. & Pope A., (2008). Get-to-Market Plans: From Strategy to SuccessfulImplementation. Blue Canyon Partners, Inc. Retrieved on 3rd July, 2014, from: http://www.bluecanyonpartners.com/wp-content/uploads/downloads/2012/03/Get-to-Market-Plans.pdf Lord, J. (2000). New Product Failure and Success. CRC Press, Inc. Retrieved on 3rd July, 2014,from:http://www.enq.ufsc.br/disci/eqa5216/material_didatico/DEVELOPINGNEWFOOD/TX67784_04.pdf Rackham. N. (2006). Why Bad Things Happen to Good New Products.

Huthwaite, Inc. Retrieved on 3rd July, 2014, from: http://www.allianceperformance.com/White%20Papers/Why_Bad_Things_Happen_to_Good_New_Products.pdf