Features

Strategic Ways To Market Products, Manage Competition

To gain attention of consumers, business people have to put out their products to the public a process called product marketing in the business world. Different people will use different strategies to entice customers to buy and believe in their new products. Here are some of the different ways a company can market its new products.

Know your competitors

Joyce Muzoora a business woman notes that before any action, you need to study your competitors and package your product different from theirs. This should be in terms of content, packaging or display for it to have an independent identity.

“When you produce a product similar to an existing one, people won’t give it time, try to bring out the difference in the way you market it.”

Use the internet

She adds that one can use the internet. Since internet is widely embraced in Uganda today, it could be the best method for one to put their new product to the public.  She notes that you can use already established online platforms to help you advertise your products. Alternatively, you can have a site of your own or open up pages on platforms like Facebook, twitter among others at a very affordable price to market your products.

Promote the product

Peter Koojo believes in promoting a product before marketing it. He says giving free samples to the target audience could be one of the means of promotion.

Loading...

“Put the product in sale points like supermarkets, shops among others where people regularly visit, give offers to entice them to buy, educating people on your product and telling them how different it is from others can be a great strategy of promotion,” he adds.

To Koojo, promotion will help you improve on the product depending to the feedback you get from consumers since you will be dealing directly with them. He adds that every new product needs promoting before marketing.

Use media

Koojo adds that media can be of great help to people who can afford it, newspapers and broadcast media reach a big audience and opting for it can be a great option.

“It’s not a matter of having them in media but getting creative ways to have them in. Make alluring adverts that print an everlasting image in a person’s mind. If its broadcast make a great script that entices people to buy. Sometimes people will buy products depending on how one advertises them, use things that appeal to them if it’s an energy drink say it will make them as strong as a lion,” he adds.

Know your customer

It would be useless advertising to people who won’t buy, John Muhido an entrepreneur notes that a company should market to the right consumer and put it out using the right content and means.

“Don’t advertise children products at late night hours on TV or radio or in newspaper sections that they don’t read. Look for where your target audience will access your product,” he adds.

Lower or raise the price

To have your product embraced, you can consider putting it on a fairly lower price. People will always run for low price products. Once they have fully appreciated the product, you can then put a standard price. On the other hand some people believe that expensive products are good quality, Muhindo notes that you can use this as a strategy to market your product as well.

“Once they are used to and have appreciated the product, they will always come for it regardless of the price,” he says.

Package your product well

In most cases people are attracted by how the product looks, giving your product a great packaging would turn out a great marketing strategy since it will invite customers. John Mumbere a graphics designer at Nasser road says attractive colours and great images can help you attract customers.

Use brochures, fliers, banners among others

Mumbere adds that one should describe the kind of business they do, location and how good it is on a well written designed and colored piece. Supply these in areas of your target customers. Busy places like markets, school gates, traffic jam, malls among others are great places to for this kind of marketing.

“You can also put up a banner at your place of work or any busy places for passersby to see, billboards are also a great strategy for companies that can afford,” he adds.

 

 

Tags
Back to top button