PRODUCT MARKETING
HR Team
Test Essay
August 18, 2015
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Marketing a product and retaining a substantial market demand.
According to Product Development a Structured Approach to Consumer Product
Development, Design, and Manufacture. Mital, Anil defines product marketing as the
“entrepreneurial art of driving your brand to the public and attracting new customers by;
identifying customers, getting to know what they want and what they expect of a certain product,
then develop a product that suits the customer’s specifications and expectations.”1 The success of
this activities is facilitated by collecting the appropriate data from the target market, develop a
product that meets their needs, establish awareness about its existence to the market, setting a
price and then availing the final item to the customers. Organizations have employed various
marketing strategies in order to make their products sellable and gradually create a big pool of
demand for that item. This techniques are synchronized with the prevailing circumstances to
determine the best promotion strategy, price setting techniques, best alternative distribution
channels, and information flow logistics, cost management that will achieve a competitive and
sustainable edge.
The position of a brand in a market is established by a combination of strong promotional
strategies such as; advertising, sales promotion, establishing good customer relations, selling
techniques and price setting strategies. In my study, I intend to discuss the best way to engineer
this strategies and how the particular brand can reach the market and influence a potential market
and demand for the product.
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1.
Mital, Anil. Product Development a Structured Approach to Consumer Product
Development, Design, and Manufacture. Amsterdam: Elsevier/Butterworth-Heinemann, 2008.
2
A case study of Samsung Electronics Company founded in 1938 South Korea
concentrates on the UK market to discuss on promotion of electronic products. The corporate
strategic philosophy is to empower the organization personnel and digitalization through
technology and innovation to promote global societal development through producing better
products and providing better services.
Product promotion strategy.
Establishing good relationship with customers. This is the way the company handles
customer’s complaints and suggestions, how it interacts with its customers on various platforms.
By achieving this I can manage to influence existing customers to continue using my products
and also refer new customers to my brand. Providing after sale servicers for instance warrants on
Samsung laptops and phones, software development and updating sessions to keep our clients up
to date, establishing customer surveys to prioritize the market’s interest and creating a forum for
more promotional opportunity.
Developing effective and efficient advertising program(s). Through use of social media
websites such as Facebook, Twitter and Google+. This platform provides a cool environment for
conducting direct marketing. “The company seeks to ensure that potential markets are reached on
national and international levels, the market is served with adequate information concerning the
Samsung products and brands. Information provided should be influential enough and persuade
the public to prefer its product over the competitor’s.”2 As a performance measure the company
____________
2
. Kotler, Philip. "Competitive strategies for new product marketing over the life
cycle." Management Science 12, no. 4 (1965): B-104.
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is required to conduct an evaluation analysis that the advertisement capture public’s interest and
triggers the target audience to have the product or continue using it.
Sales promotion. These are the value adding activities provided to a customer to
encourage more buying. For instance point of sale promotion at a designated Samsung store, this
facilitates convenience to the buyers as they are made aware of new product, they are also given
a chance to establish better negotiation terms in cases of impulse buying. Also the company can
provide loyalty reward sessions for repeating customers, conducting product giveaways through
sponsors as in this case the company supports various sports programs like world football.
Appreciate customers. At this point the company can set door prizes that will attract more
customers to the store. Provide free refreshments upon customer visits like drinks at the store.
Recognizing customers’ effort to purchase the company’s products. In the long run this will not
only encourage the current customers but attract new customers to try the benefits in the product.
Conclusion
“Due to rapid growth in the economy, competition has risen from various opponent
companies. Thus as we seek to achieve the company’s objective we should be aware of
customers reactions towards pricing techniques, be considerate on the cost involved in reaching
the products to the customers and also be keen to focus on the changes in technology especially
for the electronic products as a products like cellphones and computers. In fact an item can be
rated the best overnight but be declared obsolete at sunrise.” 3
________________
3
. Midgley, David F. Innovation and new product marketing. Croom Helm, 1977.
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Bibliography
Midgley, David F. Innovation and new product marketing. Croom Helm, 1977.
Mital, Anil. Product Development a Structured Approach to Consumer Product Development,
Design, and Manufacture. Amsterdam: Elsevier/Butterworth-Heinemann, 2008.
Kotler, Philip. "Competitive strategies for new product marketing over the life
cycle." Management Science 12, no. 4 (1965): B-104.
Kotler, Philip, and Waldemar Pfoertsch. B2B Brand Management. Berlin: Springer, 2006.
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