Execution to Market
Execution to market consists of ensuring every detail has been addressed, from filing patents, negotiating contracts with manufacturers, creating the right sales channel for your idea and making sure you have the correct support processes in place and team to carry out the support. Truvessa’s team can help you with any or all of the steps required to bring a new product or service to market. Our focus on every detail might just be the difference you need to appeal to investors and get the funding you require to make your dream a reality.
Marketing Plan
The marketing plan sets the stage for success, which first helps your customers understand why your product or service is better than, or different from, the competition. In addition, our proficient marketing techniques identify and engage your target customer base, resulting in an increase in your bottom line. Truvessa is here to create your marketing plan that can be used to pitch investors, identify who and how to market your product or service, and indicate the different avenues for getting the word out about your invention. Whether you need an updated website that allows for online ordering and fulfillment, or identification of trade shows and publications to advertise your invention in, Truvessa will guide you through the process.
- Market analysis
- Industry profile
- Competitive analysis
- Product/Services differentiation
- Target market
- SWOT Analysis
- Revenue potential
- Financial Analysis
- Social Networking Plan Designed
- Creation of a marketing and sales/distribution plan
- Website Development
- Identifying Marketing Materials
- Conduct focus groups
- Creation of Digital and Traditional Media and Event Plan
- Establishment of a PR campaign
- Identify trade shows
- Brand Creation and Awareness
Business Plan
Perform required research to identify the TAM (total addressable market) within the US and globally if required. Refine current business case to address any costs not in the current case and provide a reflection of the current TAM and competition in the marketplace. Business plan would identify:
- Resources/personnel required
- Manufacturing and operational costs, warranty and return costs
- Marketing costs and sales costs
- Achievable and realistic revenues from sales
- Creation of a 5-10 year sales and revenue forecast
- Legal costs, customer care costs
- Projected sales numbers for 5 to 10 year plan
- Funding requirements
- Amount and use of funds
- Repayment plan
Product support
- Support process
- Training for new customers
- Labor required
- Infrastructure required
- Reporting (Database, data capture, manpower, etc.)
- Continuous improvement plan
Financial analysis
- Income and cash flow statement
- Balance sheet
- Break even analysis
- ROI
Sales Plan
Assess the market opportunities and make recommendations for channel strategy, B2B, B2C, Channel. Plan the strategy for go to market which could include direct sales, channel sales, internet sales or combination and determine how you will engage a sales team, direct employees vs. outsourced.
- Creation and delivery of sales training
- Hiring, training, managing sales team permanently or for a contracted period of time
- Identify potential pilot locations to create sales and reference-able accounts
- Tailor sales plan to specific target market
- Create quotas and sales compensation plans
- Negotiation with sales channel (retailers, manufacturers, distribution)
- Define and/or integration with back end operational systems, manufacturing and distribution systems
- Define the Sales process
Distribution Plan
Distribution can make or break a company. A good distribution system means your company has greater chance of selling your products. Distribution allows you to enter the market place faster and more efficiently. Finding the right distribution partners can bring exposure to potential new customers, keep products close and available for quick sales to ensure success. Distribution is critical for any type of industry or service. The best price product, promotion and people come to nothing if the product is not available for sale at the points at which consumers can buy.
- Creation of a sales/distribution strategy
- Identify, negotiate agreements and terms with distribution channel
- Train sales/distribution channels on product specifications and support and sales of the product
Manufacturing
Manufacturing and supply chain is critical for a successful launch of a new product. Product must be available for purchase. Define methodology, just in time vs stocking of inventory. Define US vs. Global manufacturing options. Identify alternate manufacturers for production:
- Identify potential co-branding or white labeling opportunities if desired
- Negotiate contracts with manufacturing entities
- Create required work flows, customer support, new product announcements, auto replenishment, and more.
- Define customer escalation process and feedback process
- Define return policy process
- Identify and/or facilitate implementation of a help desk/support process
- Define Support Strategy, outsourced vs. in-house
- Define quality assurance standards and targets for creation of service metrics
- Provide the due diligence to take to investors and create a comprehensive pitch deck
- Define the repayment plan
- Define the ROI
- Identify investors to secure funding
- Determine the amount of funding needed and when it is needed
- Define the spend
- Negotiate terms of the funding and implement contracts for the deal
- **Contingent on acceptable business plan (Truvessa can work with your business plan or create a business plan to appeal to potential investors)
Project Management
Project Management is critical to keep projects on track, identify and mitigate risks and to make sure everything needed to create a successful outcome has been addressed.
- Initiation Phase
- Planning and Design Phase
- Execute Phase
- Monitor & Control Phase
- Closing Phase
Go to Market
Once you have developed an effective marketing and business plan, it is time for your invention to be placed in the market for potential customers. Creating a successful go-to-market strategy will ensure a strong start in the business world, you will begin to generate revenue at a higher rate through sales and distribution.
Exit Strategy
Truvessa is here to arrange this plan to give Inventors the ability to sell their development. Our goal is to support you from the beginning stages until the sale is final.
