Market Launch

This SOP outlines the data process for launching a new market, from data gathering to decision-making.

Introduction

Purpose

To establish a systematic approach for launching a new market, ensuring that market performance is monitored, customer feedback is gathered, and decisions are made based on comprehensive and accurate data.

Scope

This SOP applies to the Marketing and Product Development teams involved in market launch activities.

Definitions

• Google Docs: A web-based application where documents and spreadsheets can be created, edited, and stored online. Files can be accessed from any computer with an Internet connection and a full-featured web browser.

• Leadership Betting Meetings: Regular meetings with the leadership team to present market launch plans and make strategic decisions.

Responsibilities

• Marketing Team: Responsible for monitoring market performance, engaging customers, gathering market data, and developing a market expansion plan.

• Product Development Team: Responsible for interpreting the data and making strategic decisions based on the data.

• Leadership Team: Responsible for reviewing the market expansion plan, attending the Leadership Betting Meetings, and making final decisions on market expansion.

Procedure

Preparation

1. Data Gathering: Monitor market performance and customer feedback. Engage customers via Discord and other channels to understand their needs. Gather data on market growth and sustainability. Record all data in Google Docs, following the standard documentation processes.

Execution

1. Data Aggregation and Interpretation: Update the market performance report with new data. Develop a market expansion plan based on customer feedback and market trends.

2. Communication for Leadership Betting Meetings: Present the market expansion plan to leadership for approval. Distribute the market expansion plan to relevant teams.

Completion

1. Decision Making: During the Leadership Betting Meetings, discuss the market expansion plan, evaluate the potential for market growth, and make strategic decisions on market expansion.

Notes/Precautions

• Ensure that all data gathered is accurate and reliable.

• Regularly update the data in Google Docs to reflect the most recent market trends and customer feedback.

• Ensure that all communication with the leadership team is clear and professional.

References

• Google Docs: For managing market research data and creating reports.