How do you advertise products?
The process of introducing a product to the market, publicizing it, and persuading consumers to buy it is known as product marketing.
To increase sales and demand for the product, product marketing comprises identifying the target market for the product and applying strategic positioning and messaging.
What distinguishes product marketing? What distinguishes it from traditional marketing? Let's examine the variations.
Conventional marketing versus product marketing
While traditional marketing is all-inclusive, product marketing is strategic.
A part of traditional marketing is regarded to be product marketing. In reality, product marketing is one of the most crucial facets of a company's marketing activities, as you can see from the seven Ps of marketing.
Product marketing is the process of designing a product's positioning and messaging to appeal to a target audience after thoroughly analysing that consumer. The work of a product marketer is at the core of a company's marketing, sales, and product teams because it covers both the launch and execution side of a product as well as the marketing strategy for the product.
Conventional marketing is concentrated on broader marketing-related subjects including lead generation, SEO, and anything that has to do with attracting and converting new leads and consumers. It's about promoting the business and brand overall, which includes the things offered for sale. These marketers ensure that the company's material has a unified, on-brand message.
Let's examine product marketing aims to gain a better understanding of it
. Goals for Product Marketing
Product marketing aims to increase a product's demand and adoption among current customers. It focuses on the processes consumers take to buy your product, allowing product marketers to create campaigns to aid in this effort.
Typically, product marketing is carried out with the following objectives in mind:
1. Get to know your clients better.
When you use a product marketing plan, your target market will be able to appreciate the benefits of owning that particular product. You can perform consumer research by knowing how many customers favour your goods.
2. Effectively target your buyer personas.
You may determine the kind of buyer persona to target in the future by analysing your clients and their needs. Knowing your target's precise needs can be helpful when developing your product to meet their needs more effectively.
3. Research your competition (products and marketing tactics).
You can evaluate your approach and outcomes in relation to those of your rivals when you promote your goods. What aspects and advantages of their products stand out in the market? What concepts haven't they looked into? What distinguishes their product from yours? This study can be beneficial to you when you create your product marketing strategy.
4. Ascertain that the sales, product, and marketing teams are all on the same page.
It is advantageous for both your employees and customers if your product offering is readily apparent. Every team in your company that collaborates can more clearly comprehend the goal of the product and convey that goal to customers.
5. Set the product's position in the market suitably.
In product marketing, you want your product, brand image, and tone to be consistent and elicit the appropriate emotions in your target market. Is this product appropriate for the market of today? is one question to think about when developing your brand positioning.
• What distinguishes this product from those of our rivals?
• Is there any way we can further set this product apart from what our rivals have to offer?
or try to resell? Why not, then?
6. Increase revenue and boost sales.
As a product marketer, you will also need to reflect on and ask yourself certain questions regarding your product. By asking yourself these questions, you can make sure that your product is a hit with consumers.
• Is this product appropriate for the market of today?
• Is this product suitable for our current customers?
• What distinguishes this product from similar ones made by our rivals?
• Is there a way to set this product apart from that of our rivals even more?
Do we currently market or sell any things that we ever marketed that we would never do so again? Why not, then?
As you can see, product marketing calls on you to deliberately consider your products to make sure they're popular with clients in your current market
What makes product marketing so important?
Any company's marketing plan must include product promotion. Without it, your product won't appeal to your target market's full potential.
Let's examine a successful product marketing example to highlight its significance. Volkswagen offered a bus for sale in the 1950s. Even though it is now regarded as a historic vehicle, the bus is nevertheless a symbol of the automaker.
The exciting part? Volkswagen unveiled a brand-new electric VW Bus with a clean, contemporary design. The advertising for the car by Volkswagen is appealing, distinctive, and enjoyable, and it fits with the company's former reputation as a "hippie" brand.
Volkswagen also unveiled a sharp, understated, and brand-consistent TV ad for the bus. With the tune The Sound of Silence playing in the background (hint: electric cars are silent), it introduces the new vehicle and concludes with the caption: "Introducing a new era of electric driving."
This remark refers to the fact that Volkswagen is helping to increase public interest in electric and environmentally friendly vehicles. It also has to do with the bus entering a new era.
This justifies the significance of product marketing: Because it emphasizes the product itself rather than the business, assuring durability in the market.
But who is involved with this kind of marketing? Who contributes to the production of content that informs readers about new and updated products?
Product Marketing Responsibilities
1. Identify the buyer personas and target audience for your product.
2. Successfully create and carry out your product marketing strategy.
3. Work with and enable sales to attract the right customers for your new product.
4. Determine your product’s positioning in the market.
5. Ensure the product meets the needs of your target audience.
6. Keep your product relevant over time.
Your responsibilities as a product marketer may vary slightly based on industry, company, products, and company size and resources. If you’re working for a startup, you may be a product marketer who also helps create the content the broader marketing team produces due to limited resources and budget. As the business grows, you may move onto a team whose sole job is product marketing.
Let’s take a look at six common product marketing responsibilities.
1. Identify the buyer personas and target audience for your product.
You must identify the buyer personas and audience for your product so you can target customers in a convincing way that makes them want to purchase. This will allow you to tailor your product and its features to solve your audience's challenges.
Pro tip: Use templates to create buyer personas for your business. A tangible outline of whom you’re catering to can help align different teams in your business and better position your product in the marketplace.
2. Create, manage, and execute your product marketing strategy successfully.
3. Assist sales in bringing in customers for your new product.
4. Establish the market position of your goods.
5. Verify that your product satisfies the demands of your intended market.
6. Continue to keep your product current.
Your product must endure in the marketplace. It is your responsibility to make sure that your product marketing strategy and the items themselves remain relevant to customers as demands, expectations, and difficulties change and develop.
As a result, you might need to handle minor adjustments to your product marketing strategy (which we'll cover next), as well as updates and improvements to the product itself (you'll probably collaborate with the product team, which creates the effect, to do this).