Keys to Marketing a Product
Marketing a product takes planning and research. Fortunately, there are many ways to get the word out about your product and encourage consumers to buy. The key is to develop a comprehensive marketing plan that makes use of innovative electronic options like QR barcodes as well as traditional print advertising. Once you define your market and brand your product, you can decide on activities and strategies to achieve your sales goals.
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Defining your Target Market
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Defining your target market as specifically as possible is a crucial first step in marketing a product. Knowing your target market will enable you to brand the product, position it in the marketplace, and select marketing mediums that will be effective in reaching your prospective customers. Research demographics like income, age, sex, hobbies, family structure and profession. In-depth market research techniques may include telephone interviews, surveys and direct mail response. Knowing your target market also includes knowing your competitors and finding out what there is about their products that appeals to your market.
Branding the Product
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Branding your product and positioning it in the marketplace is a key step in product marketing. The brand tells the consumer what to expect from your product. In order to brand your product, determine what makes it better than similar products from the competition. Your product may offer a better value, a lower price, more customer service or higher quality. Establish a brand identity with a distinctive logo, characteristic colors, and proprietary lettering designs to go on labels, in advertisements and online. The graphics you select should reflect the qualities of your product. Primary colors and block letters may be suitable for a toy, while pastels and calligraphic font may work better for a line of formal gowns. Use a professional graphic artist to give a professional look to your graphics.
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Using Electronic Media
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The Internet enables your customers to learn about your products with the touch of a finger right from their own homes. Establishing a website is key to providing information about your company and its products to consumers. Websites also provide ordering information so a buyer can make a purchase quickly and conveniently. Shipping options can deliver the product directly to the consumer within days. Building an online blog and a presence on the most popular social networking websites provides ongoing information about your industry in general and your products in particular, establishing you as an expert in the field. Use video distribution websites to provide a product demonstration or plant tour to increase interest in your product.
Using Innovative Marketing Tools
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QR barcodes are being used more and more to market products. Space-saving logo-like graphics that can be placed on a wide range of materials like advertisements, tee shirts, brochures and business cards are "read" by scanning them with a smartphone. Once the barcode is scanned, your website will open up and provide product information to the consumer. Another innovative marketing tool is a flash drive used as a promotional "giveaway." Companies can imprint the flash drive with their company logo, or even commission the drive in the shape and color of their logo. The flash drive can be preloaded with information about the product.
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References
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