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Go-to-market
Definition
Before a product is introduced or launched to the market, a strategic plan of events is made. This is known as the GTM of the product. It can contain any & everything from announcements to email campaigns and trailer launches to PR, and even any other similar activity can be part of it.
How is it useful?
GTM is used to spread awareness to potential customers that a product will be released into the market.
Since market conditions keep changing, prioritization of activities in the GTM should also be optimized time-to-time.
Example
While introducing payments on WhatsApp, in India, it offered a few selected user groups a big cashback to encourage them to make their 1st payment through WA. This was one of their GTM strategies. A GTM strategy will have a marketing pitch, clear ideal customers, a distribution channel strategy & more.
Before a launch of a new car, the company holds multiple campaigns from T.V. to hoarding. All of that is part of the GTM.