New product development and the go-to-market strategy
The first way you can introduce ChatGPT into your marketing activity might be as an assistant in new product development and go-to-market (GTM) strategy.
In this section, we will look at a step-by-step guide on how to develop and promote a new product. You already own a running clothing brand called RunFast and so far you have only produced shoes, so you want to expand your business with a new product line. We will start by brainstorming ideas to create a GTM strategy. Of course, everything is supported by ChatGPT:
- Brainstorming ideas: The first thing ChatGPT can support you with is brainstorming and drafting options for your new product line. It will also provide the reasoning behind each suggestion. So, let’s ask what kind of new product line I should focus on:
Figure 7.1 – Example of new ideas generated by ChatGPT
Out of the three suggestions, we will pick the first one...
