5 Tips To Market Your Product
Releasing of products and getting the word out might be tough for some people, especially when it comes to letting your consumers know that this product exist, how wonderful it might be and getting them to purchase it. Here are five tips you should know to get started.
• Understanding what you are selling: Definitely the most basic part of marketing a product is to know what your product is and how is serves to fit into the lives of the consumers. Think of all the creative ways your product can serve the consumers who are buying it. What makes it better than other competitors that you have.
• Who do you want to purchase your products: This is an important point as you need to know who you are targeting at. Get to know your consumers well. Find out the range of their age group. Understand their shopping habits and where they often hang out. Research on their working background, like which industry are they from, how much is their income per month, how much are they willing to spend on such a product.
• Venue of sale: One thing that many people do not understand well is venue. A certain location or mall that has a lot of consumers passing by every day yet when setting up your store in this location and selling your products, make you wonder why isn't my item selling hot like the rest? It goes back to consumer knowledge. If you understand your consumer well enough you will understand whether this particular location will suit selling your product in. Because you will know what type of people are patronizing this mall. And along with shopping habits, you will also know how to renovate and layout your store to attract the correct crowd.
• Pricing your products: Getting your price of your product right can be difficult especially if the cost price of what you are selling is high. Go shop around your area of sale. Look out for competitors who are selling similar items. Note down how much they are selling it for. Feel the quality of what they are selling. Then compare it to your own product. Think through in the view of a consumer 'will I buy this for this price?', 'is this item of this quality worth the price?', 'how desirable is this item to worth spending this amount to get?’
• Concept and ways to spread it out: It may sound easy but often when it comes to spreading the word out, business owners do not understand that this in one of the most worth spending time on. Conceptualize the item you are selling. Think of a story to go along with or create a background for what you are selling. Design is also an important part of the play if you want to get it right. Choices of colors, fonts, layout, and words do make a difference on how well your product is going to sell. Finally, choose a right form of advertising. You can do it via online, POSTERS, TV ads, or even through radio station.