How to Fine Tune a Strategy in Marketing a Primary Product
Your primary product may be just what many consumers want. All you may need is to find tune your marketing strategy to effectively showcase your offering to the people. However, before you can tweak your advertising strategies, you must conduct adequate research. The more you know about your target market, the stronger your product promotions will be.
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Instructions
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Determine the need for your primary product. Identify who are current customers and who else might purchase it. Research the demographics, including the location, major decision-makers and buying trends of your target market. You must define your target market to make your advertising strategies count.
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Estimate the size of your primary target market. The U.S. Census Bureau's American FactFinder website is a good place to start gathering demographic and economic information (see Resources). Narrow down the geographical area and typical annual purchases of the product based on industry data.
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Develop a realistic estimate of how many customers you can gain from the market. Base your estimate on the purchasing habits of your target market. Narrow this figure down even further by determining where you will advertise in a chosen geographical area.
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Look at trade and government publications and directories for ideas on setting price points. Your primary products must be competitively priced; not too high or too low and based on same or similar products already on the market.
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Use a variety of advertising venues. Include radio, email marketing and print advertising. Be creative and consider other forms of marketing, such as television spots. Record the results of each advertising method. Distribute a majority of your budgeted advertising dollars where advertising has paid off in realized sales (conversions).
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Tips & Warnings
Create an info-commercial to use as an advertising tool for your primary product. An audio-video presentation can be modified for television, webcasts and other media streams. It may help potential customers make their buying decisions easier.
