In this fast track world, every day thousands of new products get in the market and vanish also. Does each and every product created has the equal chances of success or have high potential to meet consumer’s needs? Are they compatible enough to meet the challenges, or do they have the right ingredients that will bring them on the top list? In reality, not every product can reach the zeal. Then, where most of the products go wrong or make mistakes, although they are unique and have potential market segment to which they can approach?
In this article, we will give you the basic foundation that is required by a really good product to reach its audience and can sustain for a long time. Obviously, once the products or services get sustainability than you can make changes as per the market trend, technology and above all your customers’ needs. Discussed below are the top tips to get your products/services on optimum point and serve your audience in the best possible manners:
- Identify the true need:
The first step is to identify the right need of the consumer, find out the gap, which needs to be filled and then design an idea accordingly for the product or service. Conduct market research, identify and study your competitors, do SWOT analysis, PEST analysis and then design your product or services accordingly.
- Communicate your advantages:
Businesses should communicate the advantages of particular products or services, communicate the benefits that why and how your product or service can benefit them. What are your unique selling propositions and how your product or service is different from your competitors? Core knowledge plus the benefits they can get should be communicated effectively.
- Keep focus on 4Ps:
The famous 4Ps are the most critical source, which helps you in development of a perfect product or service. Product itself, price, packaging and place are the most crucial aspect of any brand. All of the four marketing prospects have to be designed after studying your target market, your competitors and suppliers. Make sure that you procure raw material in case of product development just in time so that you never go for stock shock or never get too high raw material in inventory that will affect your business by increasing warehouse cost and even can affect the quality of products.
The price is another significant element that needs to be as per your target market because you cannot charge too high price from lower class people. The price of your product should be according to your audience, product quality and what your competitors are offering.
Packaging is another most important aspect that creates an image in your customer’s mind; it is the representation of your brand image, so design it accurately and perfectly. Because bad packaging designs is one of the causes of products poor sale. Last but not the least, the place where you are going to market your product or service is elementary. Select the best place where you can easily reach your customers and serve them in a better way.
- Selection of Right Marketing Channel:
How you would reach your audience or through which medium you can communicate about your products/services? Selection of right medium is the critical point where most of the companies failed. For your product to get communicated to what size of population and which channel is suitable for you. Therefore plan your marketing strategies by keeping in view the size of your market, its scope and availability. For instance, you have a logo designing company, now how would you reach the larger audience. Obviously, if your main focus is international clients than you definitely need a website so that you can reach larger audience. You cannot do its advertisement via TV ads in local markets or by placing banners on the road side in local street. Here you have to select online medium or go with digital advertisement, market your products via social media networks and other online mediums as your market is international.
Plan strategically, market your product/service intelligently and implement it cleverly, is a piece of advice that you should keep in your mind.
- Deliver what you promise:
Top products gains popularity or become preferred choice just because of their supreme quality products/services the business provide that is why deliver what you promised within allocated time and get the best opportunity to win your clients trust. Once you are able to satisfy your customer than you can easily retain them.
- Focus on customer satisfaction rather than profit maximization:
Keep your business’ aim to satisfy your customer’s needs by providing them with the product/service higher than their expectations within the promised price. This would result in higher customer retention rate as it is difficult to attract new customers.
“Make your customers Happy”
It should be the slogan in your mind and keep focused on customer satisfaction. Customer must be happy from your product and quality services that you provide them as it is crucial for healthy customer relationship in the long run.
- Give your customer complete guidelines how to get the product/service:
Your customer must be well informed what next steps they have to take so that they can easily reach you or purchase your product in the market. If you are placing your products in limited outlets, communicate it to your customers. Well inform customer will be able to get his/her desired product without wasting time and it will add in quality delivery. Create positive reinforcement it will help you to win the hearts of your customers and gain trust. Helping customers to overcome from the hesitation, speak to them so that they can purchase your product/service as this will create healthy relationship between you and target audience.
- Listen to your customers and get feedback:
Listen to your customers, welcome feedback from them and then work in product improvement accordingly. Continuous research and development helps you in reaching the most important objectives that are customer satisfaction and higher market share. You should also make quality assurance calls, take feedback and ask for their experiences.
The aforementioned tips would help your in making your product and service topnotch ones. It’s all about your commitment, product core benefits and making clients happy.
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