How Can I Effectively Market a Small Product?

Marketing a product requires a coherent strategy.

Producing a better product doesn't guarantee commercial success. If nobody knows about your product or fully appreciates its features and benefits, the product will not sell. On the other hand, a well-designed marketing campaign can make even a mediocre product a success. Do not worry if you cannot find the resources to create a big marketing budget. Instead, think about making the greatest possible return for every dollar you spend on marketing.

Instructions

1. Analyze the market for your product. Determine all possible applications for the product. For example, if you designed a new detergent, test what surfaces the detergent cleans and then define the market for your product. Analyze what products your detergent will compete with. Segment the market to find a niche where your product has some comparative advantages. For example, you detergent may have excellent properties cleaning carpets.

2. Come up with a marketing strategy. This will define the general theme of your marketing campaign, answering the question of who will be your customers and how you will position your product in the market. Define your customer base. For example, you may decide to sell your products to households in the northeastern Unites States. Even more specifically, as women typically make purchasing decisions with regard to carpet detergents, you may want your product to appeal specifically to middle-aged females. In terms of market positioning, you may choose to highlight the fact that your detergent is made from organic materials.

3. Make your packaging and labeling reflect your marketing strategy. In the case of a carpet detergent designed primarily for middle-aged women living in the northeast, you can create a rather large family-size bottle. Show a carpet and kids playing on the carpet with a caption reading, "A 100 percent organic carpet detergent. Safe even for little children."

4. Choose distribution channels. Supermarkets are the obvious options. Try to secure contracts with large chains, such as Walmart. In addition, you can sell your product to kindergartens and child care providers. Set up a website for your company to ensure your products are available online through you and other Internet retailers.

5. Promote and advertise your product. Online advertising can be effective; make a short ad campaign to feature on Google. Also, promote your product on social networks, which are free and allow you to reach millions of consumers. TV and magazine ads can be more expensive, but you can do those once your product starts generating revenues.

References

• Business Owner's Toolkit: Marketing Your Product
• "Creative marketing for new product and new business development;" Akira Ishikawa, Atsushi Tsujimoto; 2008