What does marketing mean to you? If you ask ten different people, you will get ten different answers. That is because the discipline of marketing is broad. It reaches almost every area of business. Over time, the responsibilities of the marketing discipline have been spread across every department, especially in large corporations.
GTM is dead…or it should be
An essential strategy was developed many years ago in an effort to align all areas of the business to accelerate the attainment of product goals. This strategy is well known in the industry as go-to-market (GTM). GTM strategies are based on product performance in an arbitrary “market”. Centuries ago, the “market” had defined geographical boundaries and behaviors. While beneficial for many years, this strategy needs to evolve.
Introducing the Product Value Cycle
Today, we rarely launch products into a “market” we launch them into economies, complex societal and financial systems that are always in motion. The Product Value Cycle (PVC) is a framework built to manage and measure product performance in complex economies.
A traditional GTM plan is designed to support an end goal, usually revenue or market share. A Product Value Cycle is more flexible and nuanced. It is designed to assign and align value drivers across market segments and relationships. As value drivers change, the PVC has the flexibility to shift and demonstrate the impact of the shift on other value drivers in the model.
Every PVC is unique to your organization and objectives. Some PVCs are cyclical, others are static but repeatable. All are unique to you. Developing your Product Value Cycle is a process that requires input across your organization.
If you want to prepare your organization for the next phase of the macroeconomy, build your Product Value Cycle today. EOP Media can help.
Schedule a consultation to see if an investigative engagement is right for you.
Register for a Product Value Cycle Workshop (Coming soon)
