Product marketing is a type of marketing that revolves around the enhancement of a product. Product marketers are responsible for a product’s image, branding, and overall quality. In this blog post, we’ll discuss three types of product marketing: industrial product marketing, commercial product marketing, and consumer product marketing.
Types Of Product Marketing?
There are several types of product marketing, each with its advantages and disadvantages. Check out these common types of product marketing.
Traditional Product Marketing
Traditional product marketing is the most common type of product marketing. It involves using traditional media to promote a product, such as television commercials, print ads, and radio ads. Traditional product marketing can be very effective, but it can also be expensive.
Online Product Marketing
Online product marketing is a newer type of product marketing that uses the internet to promote products. This type of marketing can be very effective because it allows companies to target a large audience with little expense. However, online product marketing can also be difficult for certain businesses.
Guerilla Product Marketing
Guerilla product marketing is a type of marketing that uses unconventional methods to promote a product. This type of marketing can be very effective because it can capture people’s attention in a way that traditional methods cannot. However, guerilla marketing can also be challenging to control and may produce the desired results sometimes.
Word-Of-Mouth Product Marketing
Word-of-mouth product marketing is a type of marketing that relies on customers to promote a product to their friends and family. This type of marketing can be very effective because it is based on trust and personal recommendations. However, word-of-mouth marketing can be challenging to track and may only sometimes produce the desired results.
In-Store Product Marketing
In-store product marketing is a type of marketing that promotes products in retail stores. This type of marketing can be very effective because it allows customers to see and touch the product before they buy it. However, in-store product marketing can be expensive and may only sometimes produce the desired results.
Differences Between Product Marketing
A few key differences set product marketing apart from other types of marketing. For one, product marketing is all about focusing on the features and benefits of a particular product or service.
This means that rather than trying to sell the product outright, product marketers will focus on highlighting what the product can do for potential customers. Additionally, product marketing is typically more hands-on than other types of marketing.
So product marketers are responsible for everything from developing marketing materials to working with sales teams to ensure that the products they promote are appropriately represented.
Finally, because product marketing is so focused on the products themselves, it is often considered a more technical marketing type. Product marketers must understand the products they are promoting and how they work to be successful.
Benefits Of Product Marketing
Product marketing brings products to market, including research, development, branding, pricing, and promotion. Product marketing is essential because it helps companies to understand what customers want and need and how to reach them. It also allows companies to gauge customer reaction to a product before it is released.
Product marketing can launch new products, enter new markets, or reposition existing products. New products require extensive market research to determine customer needs and how best to reach them. Product marketing can revitalize sales by re-branding or changing the pricing strategy for existing products.
The benefits of product marketing include the following:
- Improved understanding of customer needs
- Greater insights into customer behavior
- Identification of new market opportunities
- Increased sales and market share
- Improved brand awareness and reputation
Drawbacks Of Product Marketing
There are several potential drawbacks of product marketing. First, if a company over-hypes a product, customers may be disappointed when they realize it doesn’t live up to the hype. Second, if a company is not honest about a product’s flaws, customers may feel misled and angry.
Third, if a company pushes a product too hard, customers may feel pressured into buying it and then regret their purchase later. Fourth, some customers may dislike the product for no reason. No matter how well a company markets a product, there will always be some people who don’t like it.
Finally, there is always the possibility that a product will fail in the marketplace, regardless of how well it is marketed. This can happen for several reasons, such as poor quality or timing.
Traditional marketing is excellent for building personal customer relationships and helpful for local products or services, but measuring results can be more challenging. There are four main types of product marketing. Each class has advantages and disadvantages, so choosing the right one for your product is essential.
Online marketing is less expensive and reaches a broader audience, but it can take more work to build personal relationships. Word-of-mouth marketing is free but takes time to build up. Ultimately, the best type of product marketing depends on your product, budget, and goals.