A corporate bigwig was once asked, “How is it possible that all the products you make end up getting you a profit?” The reply was simple “Correct marketing strategy.” This stands true, now more than ever. When there wasn’t a lot of competition in the market, it was alright to just make the product have it announced a few times and expect that the product will have a good sale and bring in a good profit for the company. This was because the common people didn’t have many options to choose from.
Nowadays there are more than a dozen companies out there making the same product. There may be a difference in brands and different packaging done and the products are of the same type but different prices. In this scenario the company which employs a robust marketing strategy is the one which gets the most customers. More customers mean more profit. This simply means that one must not only make the best quality products, they must present the product in a correct manner also.
Marketing is all about getting into the mind of the customer the message that your product is the product that they should choose over all other products of the same type. This is not an easy task. To sway the minds of people takes a lot of planning, skills and execution. To do this one must come up with a message which is strong yet easy to understand and a method through which this message can be conveyed to everyone irrespective of the differences. Also, all this has to be done using a very limited amount of money.
So, in order to getting this right you need either a group of people from your company to come together and form a marketing strategy, you need to employ a marketing consultant or you need a marketing agency. Out of these three options the first one is the simplest and the cheapest but has a tendency of going wrong. The second option is cheaper and better than the first one but a single person handling the entire process of marketing is a bit opinionated. The last option is best for getting the best and the most impressive of marketing strategies but may not be easy on the wallet.
Choosing from the above mentioned options depends on the following factors:
- What is the level of experience of your employees in terms of marketing?
- What is the budget for marketing the product?
- Do you need marketing advice just for one product or need it for many products?
The newest base for marketing is the internet. Companies are hogging up the cyberspace for marketing their products online. Thus for exposure of your product to a larger group of people it would be advisable to design the marketing strategy in such a way that online marketing plays a major role.
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