The most fundamental of your considerations
in marketing a product is the simple who, what, when, how, and why. I’m Peggy Collins
and I’m going to tell you some factors to considering marketing a product. Begin with
what your product is, you must be able to tell potential buyers what it is and the purpose
it serves. If you can’t do this, factor number two doesn’t matter. Where, when, and how the
product will be utilized by its end user are also important factors to consider. They’ll
determine your target market and marketing strategy, the how is the distribution question,
how will the consumer get the product? Will it be available at retail stores, sold on
a website, if you want to use retail stores, there’s distribution chain that requires you
to cultivate business, relationships with retail merchants. This business model can
take time and tremendous perseverance. But the rewards for a great product can be in
the millions in a relatively short time. If you decide to sell your product on the internet,
how will you drive traffic to the website and encourage consumers to seek it out? What
steps need to be taken to prepare to produce the product? How long will it take to produce?
How will it be priced? Don’t underestimate the importance of packaging and making a product
sell. Now for the big questions. What kind of resources will be required to product,
package, and market the product? Finally, have you researched the product’s feasibility?
Short term and long term sales potential, in the marketplace you hope to establish.
Consider all the factors before jumping in. I’m Peggy Collins, wishing you good luck and