I do not know about you, but when I see Coca-Cola advertising their sodas on TV, I immediately abandon my all time favorite drink and swear my fealty to the bubbly, dark-colored liquid that hisses feverishly every time the bottle top comes off. Why do I do this you ask? It’s because I too want to “taste the feeling”, pretty much like the people featured in the ad. Of course a while later (after a gazillion belches), I would go crawling back to my favorite drink but this does not really matter to the Coca-Cola brand, at the end of the day, I walked into a shop and bought their product.
Coca-Cola ads, for a while now, have been famous for their ability to appeal to a variety of audiences. Their ability to convince multiple target audiences that their product is for them is simply remarkable. So, who creates the content around how a product will be presented to consumers in a variety of markets?
Yes, you called it, product marketers.
What is product marketing?
In a nutshell, product marketing is the process of bringing a product to market and promoting the said product in order to generate sales. A product marketer is tasked with understanding a given product’s target audience and using strategic messaging as well as positioning to create demand for a product.
Is product marketing different from conventional marketing?
Yes it is.
Product marketing is a component of conventional marketing. While conventional marketing is all-inclusive, product marketing is strategic. Conventional marketing involves any activity meant to promote the entire brand including its products. The focus of this concept is to ensure that their different marketing avenues are obtaining and converting new leads and that every content produced by the company is always on-brand.
Product marketing, on the other hand, involves fully grasping the steps that consumers take to purchase a given product and coming up with a message and ways of strategically positioning this said product in the market.
Are you still with me this far? Let’s look at why product marketing is an essential “p” in the 7 p’s of marketing.
You get to know your customers better
In high school, we had this stern teacher who hardly ever smiled. Soon we discovered that he only ever did crack a smile when he discovered new ways of punishing us (he invented scrubbing the pavement with a toothbrush). One evening he waltzed into our classroom, smiled and said, “I would not be here if it were not for you.” No one really heard him because we were all wondering what new hellish punishment he had come up with but later, in the job market, my classmates and I came to appreciate the stern teacher’s statement.
Companies cannot exist without customers.
In order to construct an effective message, product marketers have to understand what makes consumers in a given target market tick. This research helps companies mold their product into what their consumers want, a factor that significantly drives up demand. The boost in demand occurs because the way the product winds up being packaged and positioned makes the consumers see value in it. In addition to this, product marketing helps companies discover which buyer personas to target in the future.
You get a feel of your competitors
When you bring your product to the marketer, you will be able to see what your competitors are doing or what they are not doing. This research on your competitors will help you come up with airtight strategies that will enable you to compete in the market effectively. Understanding the value proposition of your competitor’s products is key, especially when you are looking to thrive in a new market.
You position your product appropriately in the market
Your tone, brand image and product should be presented to consumers in such a way that they are able to see value in what you are giving them. This means that the product has to be relevant and unique. Product marketing helps to strategically place a good or service in the market with appropriate messaging that is both appealing and informative.
You get to improve departmental productivity
After taking the product to market and seeing how consumers react to it, product marketing teams bring back customer feedback to product developers, who in turn, tweak the product to effectively meet consumer needs. Product marketing also helps sales teams acquire and convert new leads through strategic positioning and messaging.
You get to come up with a long-term plan for your product
After launching a product, product marketers gather all essential information regarding the response of consumers and competitors. This helps companies come up with sound strategies around why their product worked or did not work, and how moving forward, they can consistently meet the needs of their target audience while remaining unique from their competition.
There you have it! Five reasons why product marketing is essential to your business. Are you taking a product to market? Have you come up with strategies on how you can effectively showcase your product’s value to your target market?
Parting shot
The reason why companies like Coca-Cola and Safaricom are doing so well is because of their ability to tell a story. Their product marketers create content that paints an image of a happy and content family and community. They are literally saying that their product brings people together, creates harmony and spreads love. As a business, do not ignore the power of a good story.
