5 Most Effective Methods to Market Your Product or Services Marketing is an art of matching customer desires or needs with the product benefits. To market a product successfully requires a lot of effort and careful planning. There is a lot of competition in the market since most companies sell similar products. It is therefore important for an organization to learn how to effectively market their products if they want increase their market share. Successful marketing also leads to an increase in sales, which improves the bottom line of the company in the long run. Below are some tips that can help in marketing a product effectively in this competitive environment. Understanding the target market To effectively market a product, a company must understand and identify the target market. They must know who buys their product and how much income they are willing to spend. This information is gathered by carrying out a market research whereby surveys and interviews are used. Gathering data helps in knowing the purchasing power of customers, their preference and their input about the product. Knowing these important factors will help an organization in developing products that meet the preferences, tastes, needs and wants of customers. Product design Companies must make products that differ with those of their competitors. It is good to know how all the products offered by the company fulfills the needs of the targeted market. Understanding the weaknesses and strengths of products offered also helps in improving marketing techniques. Describing the products using a clear simple language creates awareness and lets customer know what the company has to offer. Promotion Sales are not made by merely designing a product that suits the needs of the targeted customers. The organization must make efforts to promote the product using the available techniques in the market. This is the reason why organizations are always advertising for marketing or sales jobs since they need people to promote their products. There are several ways to let people know about a product, such as using fliers, emails, phone calls, leaflets and personal visits. Personal contact is considered as one of the best way to promote a product since the sales person tells the customer all they need to know about the product and also answers any questions. Pricing Pricing plays a vital role in attracting customers to buy a product. An organization determines the price of its product by comparing them to those of other competitors in the market. Products cannot be priced at an extremely low price or high price that those of other competitors. It is okay for a business sell its product at a slightly lower price compared to those of other competitors as this will attract more customers. However, it is imperative to remember that the price of any commodity is determined by the production cost and the desired profit. Offering after-sale services Customers are the cornerstone of any business, thus it is good to establish good relations with them. Many organizations assume that after making a sale, the business transaction is over. However, this is not the case as any business is expected to attend to any queries and complaints brought forth after selling the product. This will help in retaining old customers and winning new ones through referrals. Customers always feel appreciated when they receive after-sale services and will mostly come back to buy other products. See more in knownartist/art-products-services/
Posted on: Thu, 06 Jun 2013 07:45:12 +0000
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