Houzz marketing | Business & Finance homework help

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This week we are studying GTM (or Go-to-Market) Strategy which is the process of taking a new offering to market. For the Module 6 Discussion Board, you are to look at the newest offering (product, feature, service) that your assigned company has brought to market (please do not go back further than 3 years).

Please analyze the new offering as follows: (Company: Houzz)

• Describe the new offering AND post a photo for the class to see and understand the offering
  • If your offering is a feature or service, try to find an example of the offering in action. As long as we can understand the offering then this is good enough
• Analysis of New Offering
  • Type of new offering
    • Is the new offering a brand, line or category extension, product iteration, new business / acquisition or something else altogether?
  • Rogers’ Five Factors in the Diffusion of Innovation
    • Relative advantage – What was this offering an improvement upon and how did it actually succeed in being an improvement? 
    • Compatibility
      • How was this offering compatible with offerings that consumers are familiar with?
        • (If it’s a product improvement or line extension and stays in the same category, etc then simply describe whether it affects customer habits (i.e. Colgate Tartar Control may involve more deep cleaning and brushing to reduce tartar vs, regular Colgate)
        • (If it’s a brand extension like Tide Fabric Spray they are compatible with cleaning rituals but closer in action to Febreze. Remember to reach out if you need help).
    • Complexity – How much more complex is this new offering for consumers to understand?
    • Trialability
      • What level of experience do consumers need to truly understand the offering? (i.e. food requires tasting, clothes require trying them on and a 30-60 day return period)
      • How has the company allowed trial?
    • Observability
      • Where the product was successful how was the public able to understand it’s success? (i.e. reviews, word of mouth, seeing it in public use, social media)
• Pricing
  • What was the pricing at introduction and how do you believe (based on your research) that this pricing was determined?
  • Were there any special offers of “sweeteners” to entice adoption?
  • Describe how the pricing has changed since launch and whether this pricing change has accelerated adoption
• Your assessment of the new offering’s success
  • Did this offering succeed and why? (Was it particularly due to a factor mentioned above or something else altogether?)