If you find\nthat your marketing and promotional strategies are not working or achieving\ndesired results, then maybe it\u2019s time to go back to the board. Malcolm\nMcDonald, a marketing academic, said that \u201cthe other half of the marketing\naudit, having considered whom we sell to, is what we sell to them.\u201d An\neffective marketing and promotion strategy will typically be that one that is\nrooted in a deep understanding of the product and the market (market segments).<\/p>\n\n\n\n
Understanding\nthe product or service prior to setting marketing objectives and developing\nstrategies is a prerequisite for marketing success. It not only helps in\ndefining who the possible users will be, but also sets the pace for how they\nwill be reached. Each product (or service) is unique. As such, using\npromotional strategies that worked for another product or business is like\ndiagnosing a patient with typhoid without carrying out any tests just because\nthey exhibited certain symptoms the patient before them exhibited.<\/p>\n\n\n\n
There are\nmany ways to begin the quest for understanding the product. Some people start\nby looking at the functional features like components of the product and\nperformance, which form the core. Some look at added values which enhance the\nproduct\u2019s basic features such as reputation, corporate image, and style of\nservice and support. Some other people pay more attention to branding and value\nperceptions.<\/p>\n\n\n\n
The\ncompany\u2019s name or the brand name of the product often personifies the\nrelationship that develops between the company and the customer. This\nrelationship develops as a result of the company\u2019s or product\u2019s reputation in\nthe market over time. Some brands may be valued at figures that exceed their\nbalance sheet value and it\u2019s been proven over time that a brand\u2019s relationship\nwith customers is a determining factor for earnings. When brands are neglected,\ntheir distinctive vales may be eroded and they will no longer command a premium\nprice in the market. A good understanding of this is important for successful\nmarketing activities. <\/p>\n\n\n\n
If the brand image of the product is high, the company will have to do only a little in terms of marketing and promotion. But when the reverse is the case, marketing and promotion activities may fail, and the company will have to go back to the basics of redefining the product and the features of the product that will make it successful in the market.<\/p>\n","protected":false},"excerpt":{"rendered":"
Understanding the product or service prior to setting marketing objectives and developing strategies is a prerequisite for marketing success. It not only helps in defining who the possible users will be, but also sets the pace for how they will be reached. <\/p>\n","protected":false},"author":1,"featured_media":115,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"_uf_show_specific_survey":0,"_uf_disable_surveys":false,"footnotes":""},"categories":[8,9],"tags":[37],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/kleosafrica.com\/blog\/wp-json\/wp\/v2\/posts\/114"}],"collection":[{"href":"https:\/\/kleosafrica.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/kleosafrica.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/kleosafrica.com\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/kleosafrica.com\/blog\/wp-json\/wp\/v2\/comments?post=114"}],"version-history":[{"count":1,"href":"https:\/\/kleosafrica.com\/blog\/wp-json\/wp\/v2\/posts\/114\/revisions"}],"predecessor-version":[{"id":116,"href":"https:\/\/kleosafrica.com\/blog\/wp-json\/wp\/v2\/posts\/114\/revisions\/116"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/kleosafrica.com\/blog\/wp-json\/wp\/v2\/media\/115"}],"wp:attachment":[{"href":"https:\/\/kleosafrica.com\/blog\/wp-json\/wp\/v2\/media?parent=114"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/kleosafrica.com\/blog\/wp-json\/wp\/v2\/categories?post=114"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/kleosafrica.com\/blog\/wp-json\/wp\/v2\/tags?post=114"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}