Week 4 - MKTG 6101 - Ascend Your Start-Up Chapter 4

 Chapter 4 of Ascend Your Start-Up, poses decisions 10, 11, and 12 of your start-up journey. 

Decision 10: What Distribution Channel Will You Build As a Pathway to Customers? 

Determining the best way to launch your product to your customers is important. This decision will help you decide the step-by-step plan to bring your product to market. Knowing your product distribution channels will allow for you to decide on the best strategy for distribution. When deciding on your distribution channel, consider how you are going to measure success and determine if that distribution channel will aid in your financial success. 

Decision 11: What is Your Pricing Strategy?

Determining the perfect price for your product that matches the value that still makes you competitive is key. You want to make sure you take into account competitors as well as the supply and demand for your product. Yu points out that it is important to not just consider the cost to make the product but also the value that is tied to the product.

Decision 12: How Will You Help Your Customer’s Customer Scale and Grow?

Make sure you are providing a product and brand that your customers can rely on. If they can rely on you and expand with you, this will lead to upselling and cross-selling. Don’t put other companies down - instead make them look good but deliver on other brands promises. Focusing on your product strategy and brand identity will allow for you to outshine your competitors without putting them down. 

References

Yu, H. (2021). Ascend Your Start-Up: Conquer the 5 Disconnects to Accelerate Growth.