Expert: Peter Gabany - 9/20/2004

Question
hey!
thank you for replying, i was wondering can you give me an example of how to market/advertise any product in 2 minutes that would make the buyer want to buy your product?
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Followup To
Question -
Hi!
i was wondering if i was going to come up with a product, how do you develop an effective marketing concept or plan for the product? ARe there like any rules and steps? What are the steps in advertising a product like really quick and make it effective for buyers? What would be the best way to target or segment and position a product. I'm just asking this to know more about marketing . Thanks!!!
Answer -
Suzana,

Your question is a good one but difficult to answer without any background. I will try and explain. Is this a totally new product? No one else has it? No one knows what it can do for them? The approach here is very different from the marketing of a me too product. The spend on educating the customer is a lot higher on something others need to become familiar with.

Familiarity can be cultural in nature as well. Hot sauce, while enjoyed in the northern reaches of the country are not nearly as popular as they are in the south. So something that is perceived to put fire in your mouth, might require a different approach to appeal to those in the north.

If you were to market toilet paper in Indonesia, it just wouldn't go over well because they don't use it. Same with a bath tub. In Polynesian countries they consider it vile to soak in a tub of water that they have just washed their dirty body in.

Market research, geographics, cultural segmentation, competitive analysis, Market Development Index, brand development Index on existing brands will give you some insight on existing brands/products but somewhat useless (all accept market research) for non familiar items.

If you can be a bit more specific as to what you would consider as the product, if it were to be a national/international or regional roll-out. Is it consumer or manufacturing based product? What region are you located. What kind of budget do yo have for roll-out? $100,000, 500,000 or more?

Please answer some of these questions and I would be pleased to give you some resources.

Thank you for your question.

Pete  

Answer
Suzanna,

I would love to help here but refer you instead to Marketing Management – Analysis, Planning, Implementation and Control by Philip Kotler and Ronald Turner. Your question is still so very broad, but Phil's book is a gem. It looks at the four key steps of analysis of your product and market, planning an approach, implementation steps and controlling inventory, orders and your overall business.

Also in the book are a host of case studies – these are invaluable as you may be able to see a profile of a product that you are considering.

I have a 9th Edition but I believe that they are now into an 11th Edition and probably available through your public library, university library or amazon.com.

Thank you again for your question.

Pete