The Importance of Product Marketing

June 26, 2012 by  Filed under: Marketing 

Products are the focal point of what a business entity has to offer to the consumer. On the other hand, marketing keeps an eye on the consumer who buys or patronizes the goods and services the business offers. Since products and marketing go hand in hand, product marketing can be described as the introduction and selling of a new product or technology to a predetermined client base. It is basically about what people will buy, who are the targeted people to buy and encouraging these people to buy.

One of the most challenging and exciting aspects of product marketing is coming up with an effective strategy that will launch a new merchandise. Product plays the most important role in a well thought out marketing plan. It determines all other aspects of marketing like the expenses or costs at which the products have been put together. Where there exists a broad range of product lines, the price or costing is largely affected in terms of manufacturing, promotion and marketing.

The prospective consumer base specifically has the need regarding what the products offer to solve. It is important to recognize the importance of who will buy the products and what their needs are. Accessibility as to where these are available also plays an important factor in product marketing. This is where the role of promotion and advertising come into play. Product marketing presents the means on how the products will be made available to the consumers. Distribution options are available, including the use of online resources which is one of the cheapest and most effective avenues to market goods and services nowadays.

Well packaged products also help develop an effective product marketing strategy. Physical attributes are important since it helps give personality to the merchandise. It is also wise to consider whether the merchandise should be given a separate brand name or whether to associate it with the trade name carried by the business entity. A well established business name certainly adds credit when associated to a fresh product being introduced into the market.

In product marketing, a well defined positioning of the products should be put in place. Consumers must have a complete understanding of the nature of the products and how it is intended to be classified. Likewise, the products have to be clearly defined commodities in terms of benefits to the consumers and how it differs over competing brands or products in the marketplace.

In a broader scope, a company’s offerings are the converging point of its identity in business. Product marketing should address how these offerings are conveyed to the target consumers, their needs and how these products will meet their requirements.

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