Product Management 101: How to Market Your Product

General Merchandise

Product promotion has a lot of procedures. Before doing any promotion, you have to know your product; you have to understand what you are promoting to, and most importantly you must know your target market and your competitors. Learning all these will let you determine the most suitable marketing plan for your product, brain storming or sharing of ideas with your partners is a best way to start your marketing strategies.

Target Market

These are the people who you aim your marketing efforts to. This is the group that you want to sell your products or services, your target market can be classified in different segments, this includes; Gender, economic status and age levels.

Competitors

These are the different companies who also sell the same products that you are promoting, it’s important to know their strength and weaknesses, and what are the things that they are not offering and what are the things that they are offering. Knowing all these will surely help you come up with a better marketing strategy.

Steps in Promoting Your Product

  1.  Prepare your budget-  You need to a lot a budget with any type of marketing promotion that you have in mind, because it will not only create an impression in your target market, it will also give you back expected revenues. Good quality promotion reflects a good quality product.
  2.  Create an eye catching logo, packaging or slogan – You need to have something recognizable to your potential customers; this will depend on the type of product that you are promoting.
  3.  Post your product at the homepage of your website –It is easy for your customers to see the product that you are promoting if you will place it at the homepage of your website, it will catch the attention of the customer and will read more about the product, and it will convince them to buy your product.
  4.  Billboards and Banners – Displaying your products through posters and billboards near to your target market is an effective way to promote your product. If you in a clothing line, it is better to place your billboards and banners near the shopping malls.
  5.  TV Commercials – Promoting your product through TV commercial will cost you a lot of money, but it will surely reach all your target market all over the country. Popularity of your product helps you to increase your sales.

“But no matter how good you are in promoting your product, you will not stay long in the industry if you are producing poor quality products to your target market.”

By Doppler

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