The safe approach
You often hear: “This product sells itself; it doesn’t need marketing.” The truth is quite different. A product or service with a clear marketing strategy is what enables it to thrive and grow successfully in the market. A well-positioned product might not require advertising, but it undoubtedly needs a robust marketing approach.
You are well-acquainted with your business and production technology, but you need assistance in connecting the elements into a coherent whole with specific weight. A strategy that places your brand and products in a secure position within the market. Alignment with business goals is a prerequisite for a marketing strategy.
Market research
A solid strategy should begin with both qualitative and quantitative research to provide input parameters without which crafting a serious market entry strategy would be impossible.
The strategy
Guided by research results, encompasses:
- Market Segmentation: Objective assessment – defining niches and segments within the product category.
- Targeting: Subjective choice—selecting a market segment in line with the product and business objectives.
- Positioning: Directing communication towards precisely defined portions of the market segment.
Execution
- Product: Alterations in product design, tailoring to market needs, or creating new needs.
- Pricing Policy: Besides factors that influence price determination, the way price communication is handled is of paramount importance. Price is a subjective category, and its perception varies depending on how it’s presented and communicated.
- Distribution: Product availability through various distribution channels. Implementation speed of software solutions, customer support.
- Advertising: The tip of the iceberg, what your potential clients will see, but behind it lies a serious strategy.
A product’s success is not just a matter of chance. It’s a calculated journey guided by a well-crafted marketing strategy.