Product Marketing Basic Strategies:
5 Fundamentals behind making any Products Sale-able and Successful in the market to the potential customers and end users.
There’s competition in any industry and it allows consumers to gain access to numerous alternatives in the market. Ideally, each company should behave efficiently and ethically; respecting both the law and customers. But from what we have seen, the world isn’t that perfect and sometimes consumers end up buying things from companies they would rather avoid. We are living in a multifaceted, complicated and imperfect world. However, companies could continue giving enough reasons for consumers to buy their products, despite the intense competition and their potential dislikes.
The below mentioned points cover some most basic and fundamental ideology while making and marketing products for any kind of company or business. A product comes first in the 7P’s of Business Marketing Strategies
Small Business Marketing Ideas for Making Successful Products : 5 Ways to Making a Product Successful. Small Business Product Marketing ideas & fundamental things in making hit products. Most basic Points to consider for better Product Marketing.
#1. Give consumers no other choices:
In many areas, consumers have no other choices for landline phone services, electricity, gas or water. They often find the multiple no-choice situations in specific geographical areas. As an example, if people live far from major airports, they could be stuck to the closest airline services or ticketing agencies. Few people are willing to drive farther to avoid airlines they hate so much. In areas with few places to purchase for food, grocery shopping at the nearest convenience stores can be their only options. Small businesses should look for possible geographical advantages and establish their stores at places where consumer will have almost no choice but to buy from them.
#2. Set proper pricing policy:
Although we want to support the local economy by buying video games, furniture, food, books and clothes at independent retailers; these things can be so much cheaper to obtain at those huge stores. The general dislike for Best Buy, Target, Walmart and other large retail chains may not be enough to negate the temptation to buy products with deep discounts. Many car owners dislike specific petroleum companies for huge tax breaks they get from the government, unsafe working conditions at rigs and refineries and involvement in environmental disasters. But eventually, we choose gas stations that sell cheaper fuel than the competitors in town. Small businesses should consider whether they can achieve the same pricing advantage to make their products irresistible to local buyers.
#3. Make things more convenient:
We go to Walmart more than twice each month, not only because it is cheap; but also because we could get almost everything in there. We don’t need to drive all over the place going from shops to stores to get things we want. Also, this year’s Super Bowl won’t wait until the huge TV set from Amazon arrives to our home. In this case, consumers may need to suck it up and do businesses with local companies they have been avoiding. Choices in the airline industry can also be influenced by convenience. Although the local airport is serviced by multiple airlines, we could end up choosing a carrier we dislike because it provides the only direct route to our frequent destinations. Small businesses should find ways to make people find it convenient to purchase products from them. Stores could offer local consumers free delivery of products to allow them order from the home or websites.
#4. Make your products lovable:
McDonald and many other fast food chains are criticized for their unhealthy foods, but damn if we don’t crave for their spicy chicken sandwich or Big Mac occasionally. Some luxury hotels could be owned by dictatorial despots from countries we have barely heard of; but they could offer the best honeymoon packages in the area. Consumers could experience the tug-of-war between disgust with the business and the affection they feel for the products. It doesn’t mean that small businesses should be the much-hated companies in the local areas, but we could learn how consumers tend to love the products, not the companies that produce them.
#5. Stand out from the competition with effective solutions:
Sometimes we have all the good and idealistic principles in the world; but they don’t matter much. The competition may not be able to provide the same convenience, taste and price levels. As an example, studies on subscribers of major carriers in the country, like Verizon, Sprint, T-Mobile and AT&T showed that they were convinced that their network carriers are the worst. Sometimes it is because the carrier has sketchy coverage in the area and other times, it is because the carriers charge more. Some carriers could also have annoying billing and customer service. For them, switching to another carrier is like jumping from one frying pan to other frying pans. Major carriers have invested so much money and effort on marketing messages at customers, despite the fact that current subscribers are mildly satisfied with their offerings, at best. Small businesses should learn things that consumers hate from the local competitors and provide solutions for that.