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Your company needs to decide which markets to sell to. They also need to choose your customers based on the product you’re going to offer them, and know what your competition is already offering them. Once you decide on the market, you have to promote your product to that market. Having the correct promotion is one of the biggest advantages that a company can have. Consumers need to be aware of the product as well as distributors and dealers.
Good promotion is a key factor in gaining market share, and in turn sales growth. It is very critical because a would-be customer can’t purchase the product if they don’t know it exists. You can have great gains due to clever promotional programs. A massive selling campaign may force the competitor to play catch-up for months or even years. Promotion that works gives you much more leeway than just having a better price.
The downside of promotion is trying to keep your competitors from finding out what’s going on. You have to keep it quiet till the timing is right, or your competitors will be having their product launch right along side you. This is detrimental because a product launch can determine success. Timing, coordination and carefully planned execution and communication are the cornerstones of a successful launch.
When making the distributors and dealers aware of the product, it takes a little more effort than the consumer part. You have to find a place with excellent physical facilities inhabited by educated and skilled people with a high morale. These so-called troops help lock your position in the market place. Sales teams, advertising people and public relations people all cost a lot, but they are needed to sell your product. If you can sell the product to the sales force, then they can sell it to the customer or rather persuade them to buy it. Distributors and dealers need an incentive to sell, and having a product that they stand behind is the greatest incentive they can have.
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