Prepairing for Launch - Module 1 Flashcards
What is a go-to-market strategy?
A go-to-market strategy is a plan for reaching target customers and creating demand for a product or service.
Why do startups need a distinct go-to-market strategy?
Startups often have limited resources and need to build brand awareness and capture early adopters quickly.
What is a revenue model?
A revenue model outlines how a business will generate income from its products or services.
What is the subscription revenue model?
The subscription model generates predictable revenue by charging customers on a recurring basis.
What is a freemium model?
A freemium model offers basic services for free, with the option to pay for additional features.
What is multi-sided market revenue?
A multi-sided market generates revenue by facilitating transactions between two or more groups, like buyers and sellers.
What are cost-based and value-based pricing?
Cost-based pricing is set by adding a markup to costs, while value-based pricing is set by perceived value to the customer.
What is Customer Acquisition Cost (CAC)?
CAC is the cost associated with acquiring a new customer.
What is Customer Lifetime Value (CLTV)?
CLTV is the total revenue a business can expect from a customer over their relationship with the business.
Why is tracking CAC and CLTV important?
Tracking CAC and CLTV helps determine if the cost of acquiring customers is sustainable and profitable long-term.
What is competitive pricing?
Competitive pricing sets prices based on competitors’ prices.
What is variable pricing?
Variable pricing adjusts prices based on demand, customer segments, or timing.
