Modern marketers are increasingly paying close attention to certain aspects of their activities, such as salary level, contract extension, or improvement of professional contacts. And often they forget about a main element of the work. It concerns the need to understand customers, the alignment of their values with the company’s items.
For this purpose, product marketing has been created. With its help, firms could create so-called “mental maps” of potential clients, make logically based decisions about investing their resources, plan supply and demand, and quickly respond to market changes.
What Is Product Marketing?
The concept of product marketing itself is sufficient in explanation since it simultaneously covers the area of sales and management. Some experts mean under it “establishing a connection between the firm and the buyers”. Others focus exclusively on marketing communications. Many of researchers concentrate on the tasks of a marketer or his\her role in the company. But there is still no clear definition.
Perhaps one of the reasons for such problems with defining product marketing is the misunderstanding of the work of marketing executives and attributing to them secondary functions. The second reason is that a lot of businessmen confuse mentioned term with its management or other branches of knowledge. So, the product marketing means a set of strategic tools aimed at the effective representation of a new product or service.
In fact, an expert in mentioned field acts as a link between goods, a team, and consumers. Before offering a new item, specialists pay great attention to positioning the brand, collecting information about customer preferences, exchanging mutual messages and developing an overall product launch strategy. After the appearance of wares in the marketplace, a marketer is engaged in supporting the level of high sales by stimulating demand from consumers.
In general, such specialists are required to have in-depth knowledge of psychology in order to achieve proper product placement, meet the needs of the target audience, the relevance of the item and increase profits. That’s why product marketer’s work typically includes:
- Understanding of the company's mission by the buyer, segmentation of the consumer market;
- Effective brand positioning and establishing a reciprocal link with customers. Experts are looking for answers to key questions: for who is the product intended, what are its functions and how it differs from its analogs;
- Distribution of materials among the firm's personnel aimed at the implementation of as many transactions as possible. Employees must adhere to a single policy proposed by the marketing team;
- Study of the competitive environment;
Develop a strategy for launching a new product, including using a variety of communication channels. It’s the most important part of marketing. The goal of the marketer is to make sure that everything is ready for work, from the official website to commodity experts. Regularly check your own marketing activities with the agreed budget. You may not control what cannot be measured. Bring your partners to the compilation of quarterly reports to ensure the success of the strategy. In the opposite case, it needs to be adjusted.
Product Marketing vs. Traditional Marketing
A lot of people think that these terms coincide, but this is far from being the case. The priority task of traditional marketing is attracting new customers and expanding the client base by achieving brand consistency and advertising.
Product marketing focuses on increasing demand by working closely with consumers and their preferences. Its goal is to make them happy and content. Watch how people use your item in everyday life.
You could use traditional surveys to involve a client in a more detailed conversation. But be prepared for criticism and remarks, because not everyone may like your product. Analyze the answers and draw the appropriate conclusions. Collect opinions and, through feedback, turn your customers into company advocates. Let them share stories and funny cases on the page of your website, not forgetting to praise branded goods.
Also, contrary to popular belief, there are differences between product management and product marketing. If the first is concentrated on creating innovations, then the latter seeks to bring them to the market as successfully as possible. For this purpose, pay attention to the sellers of your wares. It is their behavior and quality of service that affects brand perception. In addition, distributors also need to have a sales plan. Monitor all indicators and discuss problems together.
However, as a product marketer, you should not rely solely on analytical reviews or partner data. Refer to social networks to find out which criteria really affect market demand. Choose a tactic of informal communication with potential clients to interest and attract them to your side.
Thus, product marketing serves as a benchmark for many companies trying not to get lost among competitors. It helps to remember the necessary things that should be considered for effective brand positioning. Without a fundamental understanding of the client, you risk losing control over the market situation.