Product To Sell

Every entrepreneur knows that for the product to sell, consumer must first be aware that the product exists.  Only then would he be motivated to give some attention to the product and what it may provide. This will be followed by evaluation of the need for the consumer to buy, which will hopefully make him give the product a try. A good experience may lead to continued use, so this stage can be critical in making or breaking a sale and how your brand’s name is perceived in the market plays a strong role in this step.

Note that the consumer must go through the earlier phases before the later ones can be accomplished.

Prior to the purchase, the marketer extensively uses samples to induce trial while trying to establish a decision in the buyer to purchase. While the consumer is at the store and is in the purchase stage, the marketer will put in all his effort to make the consumer choose his brand. Along with this, a small business owner might want to pay retailers for the point of purchase displays and preferred shelf space, to ensure more visibility.

Among other several types of advertising, the ‘pioneering’ ad can be used to create awareness of a product and brand and to instil an appreciation among consumers for its possibilities.  The basic idea here is to show down other brands in order to bring yours up. In finer words, it is the competitive or persuasive ad attempts to convince the consumer either of the performance of the product and/or how it is superior in some way to that of others.

Comparative advertisements are a prime example of this. For instance, note the ads that show that some sunscreens are more effective than others.  The pioneering ad process also follows reminder advertising, which seeks to keep the consumer believing what other ads have already established. For example, Pepsi ads tend not to provide new information but keep reinforcing what a great drink it is and that no other drink comes close to it in terms of consumer’s choice.

It is important to understand that promotional objectives for the same product may be different across the Product Life Cycle (PLC). Early in the PLC, when the product is in the introductory stage, the most important objective is to create awareness for the product among consumers.  For example, many consumers currently do not know that the Stevia plant is a healthy replacement for sugar and how diabetics can benefit from the plant and plant based products. So, the companies making products from this plant first have to create awareness of the existence of the plant itself.

Just like different promotional approaches will be appropriate at different stages of a PLC, promotional approaches also change depending on the stage of the consumer’s decision process that the marketer wishes to influence.

Experts say that while structuring your new business, cost should not be the driving factor. In today’s world of internet, many online sources allow you to create a corporate entity for just a few hundred dollars. All you need to do is put in your information, and you get templates created for your company! Advertising your business has never been easier. As discussed in my post Quick Business Development Tips, one of the best things about the internet is that the size of your company does not really matter.

If you have a good website, that is user-friendly and sells unique products at competitive prices, there is no reason why your website would not rank ahead of a large multinational competitor on Google, and funnel off some of their traffic. This is an important reason why a website is even more necessary for a small business than a big one, it helps level the playing field. Once you have a website for your company, advertise as many products as you want on it. Just make sure you contact a good company to create and manage the website. HyperEffects is one company that i totally rely on for all my website related requirements. Along with being extremely professional in their approach and work ethics, HyperEffects also provides free business consultation to entrepreneurs and small-business owners.

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