New Product Development and the Go-to-Market Strategy

Learn to use ChatGPT for full-scale marketing: idea generation, naming, slogans, research, variant creation, descriptions, pricing, and DALL-E-designed Instagram posts for an AI-powered product launch.

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The first way we can introduce ChatGPT into our marketing activity might be as an assistant in new product development and go-to-market (GTM) strategy.

Step-by-step guide for new product development

In this section, we’ll look at a step-by-step guide on how to develop and promote a new product. Let's imagine, we already own a running clothing brand called RunFast, and so far, we have only produced shoes, so we want to expand our business with a new product line. We will start by brainstorming ideas to create a GTM strategy. Of course, everything is supported by ChatGPT:

  1. Brainstorming ideas: The first thing ChatGPT can support us with is brainstorming and drafting options for our new product line. It will also provide the reasoning behind each suggestion. So, let’s ask what kind of new product line we should focus on:

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