Be it a company which manufacturers or even supplies any product in wholesale, what that is important is to have a strategy for its product marketing to handover the products right into the hands of the targeted consumers. If we check carefully we will see strategies for product marketing starts with a basic idea and then it will move into different stages for developing the actual strategies which may include
• Market Analysis
• Finalizing product pricing
• Giving training to sales force
• Execution of promotion
In short, a product marketing strategy covers each and every department of a company starting from engineering to design and sales distribution.
Common elements of product marketing strategies:
1. The product: The product needs to be strong enough to win the hearts of the targeted customers. It needs to be designed keeping customer expectations in mind.
2. The targeted customers: The marketing strategy needs to be planned keeping customers in mind.
3. Customer communication: Customer communication need to be established strongly to create an impact on their minds. Use of narrative jingles or messages can help in this regard
4. Developing a team: To market the product well you need to create a strong team who can sell, market, engineer, as well as develop the correct product for the industry.
5. Promotion: Promotion strategies need to be as strong as the product. Even if the product is good by default, no customer will come to you and you need to make the product reach to customers.
The fact is that there are several types of strategies which can be adapted for marketing a product. Few specific among them include: