Goldsmith Technology Commercialization Model
Step 14: Sales and Distribution
The concept of Sales and Distribution grows more complex and more sophisticated each year, but the simple proposition in today’s business world is—if you are not growing market share, you are probably in the cross hairs of your competitor’s scope. This requires a systematic approach to monitoring product performance, customer profiles, and market positioning. The most sophisticated companies are using extensive data collection and expert system software programs to provide them with the competitive intelligence to maximize their market opportunity.
Definition: The sales and distribution step is that period when the product is receiving some degree of market reception by distributors and buyers.
Objective: The objective of the sales and distribution step is to gain market share and increase profitability.
Product: The product of this step is a final confirmation or modification of one or more elements in the marketing approach.
The marketing activities common to this step are those necessary to expand product sales and assess product's market performance.
During the sales and distribution step, the following activities must be completed:
- Identify areas for market expansion
- Assess customer satisfaction
- Assess distributor satisfaction
- Refine product features
Milestones: Growing Sales
Funding Sources: Venture Capital (early stage round)
Marketing Information: Implementation of the sales and distribution step will usually result in a knowledge of the product's competitive position in the market, the demographics of the product, key customers for the product, perceived benefits of the product, communication mechanism for promoting the product, and the most effective and efficient sales channels.
Have you established product distribution and sales?
Have you identified areas for market expansion?
Have you assessed customer satisfaction?
Have you assessed distributor satisfaction?
Have you refined product features?