I am new to being an entrepreneur and still pretty young. I was asked what my 'route to market' is.
What is the definition of this? Is it how I bring my product to a point of a sale?
Typically in an Internet business it is how do you make your money. Change the user, the advertiser, the referral click, actually sell something etc.
It can also span onto how do you get in front of your market? Do they find you through blogs, advertising, referals, affilliate markets.
If they have a techie bent then their focus will likely be on what are the key things you need to do before you start making money.
Route to market is all activities related to generating demand in the market for our products and services.it is very important to bring my products to point of sales.
Yes. Generally, (as I understand it) it means how do you sell you product. Where, when, how etc.
RTM determine the company sales volume, their ability to deliver the proper levels of customer service in a cost-effective manner, and their success at securing scarce retail shelf space for their products. Nevertheless, few FMCG companies have a comprehensive conceptual platform for optimizing their routes to market.
Such a platform must enable companies to design Route-to-market (RTM) models that are characterized by four qualities: They have a strong customer focus. They are aligned with the company’s strategic goals and value offerings, and supported by its operational capabilities. They balance customer needs, revenue growth, and cost-to-serve. And finally, they are flexible enough to be adapted in response to changing strategic goals and competitive threats.