Marketing a product involves many things. You cannot take your product to any advertising agency and ask them to promote it. This is probably one of the biggest mistakes that most entrepreneurs do! Not only it will cost you a huge amount of money but also you will hardly receive any benefit out of it. Are you searching for better options as to how to market your product? Don't worry! I will suggest you a few in the following paragraphs.
- Market Research
They say 'hard work' always pays off! Well, I couldn't have agreed more because the first thing that you need to do before advertising a product is 'market research'.
- Why do you need a market research?
This takes your efforts, hard work, and your dedication. Without research, you will never know who would need or require your products. You need to go on the field, question the people regarding their likes and dislikes; who knows? They may also be your ideal customers. Gather data and information and then move on to the next step.
- Know your Target Audience
It makes work easier and better if you already know who your target audience is. This is somehow link to the point that I mentioned earlier that is market research.
After a proper research, you know where are your target audience is and who. So, you do not need to spend more money on advertising in general and even those who are not interested in your product.
E.g., if the majority of the people in Delhi like Mother Dairy, advertising an Amul product will be a bad idea. After knowing the taste of the people, you can advertise in filtered locations.
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- Discover Media Habits
This is actually one of the ways as to how to advertise a product
By this, it means that you have to know what does your audience mostly use when it comes to the use of media platforms or, how can you directly reach them.
Whether your target audience is people who spend time on the internet or reading newspapers
Whether your product is for oldies for teenagers or for both
Accordingly, you can advertise. E.g., if your target audience is the middle or old-aged people, you may refer to doing it through newspapers as people in these age groups often read newspapers.
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- Know your competitors
If your product is similar to that of your competitors, you have to go for another way of how to do marketing
You will also have to do a research on your competitors like how they are advertising their products, what are their profits and losses
This will help you come up with the best way to advertise yours. Also, when you know the success and failures o your competitors, you can come up with the best strategy to market your products.
- Platforms where you can use
Talking about what are the mediums available where you can advertise your products, well, Don't worry! There are plenty! But, determining the use of your target audience, you can advertise accordingly. Following are a few examples:
Online Advertising: If the product that you want to advertise is for youngsters, you may consider using social media platforms to advertise. As, most of the youngsters these days spend most of their time on the internet.
Print Ad: One of the best ways to advertise if your target audience is the ones who spend a little or more time reading newspapers, magazines etc.
Radio Ad: If your target audience is lower or middle-class people, radio is one of the best platforms to advertise. Mostly public transports often on their radios when moving from one place to another. And people who cannot afford a television will always prefer a radio.
You may also target common people taking up public transports.
TV Ad: Develop TV ad content and advertise. For this, you may need more money than advertising on others.
Others: There are many other platforms that you can use like, press release, direct mail, interpersonal networking, events etc.