The first factor is the proper identification of the consumers of the product. You cannot effectively market a product if you do not know the consumers. The purpose of identifying the consumers is to enable you to know the right people to target with the marketing. For marketing to be successful, you must focuses the right people who have the potential of using the product.
The identification is therefore necessary for the success for the advertisement. The potential consumers you identify will also help you in deciding the best strategy to use which will enable you to effectively reach out to them. It is worth noting that there are several strategies a marketer can use in advertising a product.
However, the suitability of the strategy varies form one circumstance to the other. Some of the things which will influence the strategy to be used include the following. The first one is the amount of resources available. Different strategy will require different type and amount of resources in order to be successfully implemented.
It is a good idea to also consider other alternative strategies which are cost effective. For instant the use of social media. Social media provides a perfect platform where one can market a product at very low cost. All you need is internet connectivity.
This is because most of the time, people do not have the time to critically analyses a product before buying. What most of them do is to compare their USP then make a determination from that. Therefore when formulating the USP, you must ensure that it depicts the product as having the capability to provide solution n to the needs of the consumers and also it is capable to satisfy their expectations.
Selling price an important factor in luring people to buy a particular product. Most people will decide on the product to buy based on its price. It is therefore important that you ensure that the prices set are suitable and reasonable. Before fixing your prices, you need to consider the general market price of similar product.
This will enable you to come up with a price which is relatively lower than the general market hence the consumers will consider it as the cheapest in the market. However in lowering your prices, you must ensure that the price you fix is capable of earning you a profit. Therefore you must also consider the buying price as well as the other expenses you are going to incur. These factors will enable you to effectively market the product and convince most of the people to buy it.
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