4: S.A.V.E Marketing – New Marketing Principals.3: The 7P's – An extension of the 4P's, THIRD.2: The 4C's – Take a look at these SECOND.Please follow the flow below to get everything: The message you want to communicate, and the target market you have defined already in previous steps. Your combination of promotional strategies and how you go about promotion will depend on your budget. What is the promotion strategy of your competitors?.Is it best to use the social media in promoting the product?.Will you reach your potential audience and buyers through television ads?.When is the best time to promote your product?.How can you send marketing messages to your potential buyers?.In creating an effective product promotion strategy, you need to answer the following questions: How is the product different from the products of your competitors?Īn extremely good example of this is online social media and managing a firm's online social media presence.What are the sizes or colors available?.Are you creating features that are not needed by the client?.Are there any necessary features that you missed out?.What features must the product have to meet the client’s needs?.What does the client want from the service or product?.In developing the right product, you have to answer the following questions: It may be wise to expand your current product mix by diversifying and increasing the depth of your product line.Īll in all, marketers must ask themselves the question “what can I do to offer a better product to this group of people than my competitors”. ![]() Marketers must also create the right product mix. ![]() It is important for marketers to reinvent their products to stimulate more demand once it reaches the sales decline phase. A product has a certain life cycle that includes the growth phase, the maturity phase, and the sales decline phase.
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