The process of bringing a product to customers is often called product marketing. Product marketing includes analyzing a product’s market, defining the feature of a product and helping to determine pricing. It can include product branding and promotion. This process can include packaging, labelling and retail display. One aspect of product marketing involves promoting a product through media awareness, customer interaction and investment partners. Another aspect may involve developing distribution methods, sales locations and cross-promotions to increase customer support. To achieve successful product marketing, businesses may harness the power of social media. Finally, product marketing may include monitoring competitors.
Product marketing can be thought of as the process of selling one company’s product to one customer one time. Establishing a plan to reach that one customer is the essence of the product marketing strategy. Once the product has been identified, the ideal target customer is considered. Establishing who the customer is will help to drive the methods of reaching that customer. The methodology of reaching the customer is the process of product marketing. Depending on who the target customer is, the methods will change. A younger customer base may warrant using more technology based marketing. The suburban mom may be reached through radio spots. Some products may be released with a variety of marketing methods that will appeal to a wide variety of customers. The product release may vary based on location, customer usage and demographics.
Once the method of reaching the one customer has been developed, the overall product marketing plan will be established. Companies will determine the best way to effective reach large numbers of their ideal customer. There may be slight variations and deviations, but the overall marketing plan will help the company make effective and strategic decisions. A product marketing campaign will constantly be evaluating the success of the plan and making changes as necessary to keep the product offering fresh and relevant.