Product & Service Marketing
Let’s for a moment accept the following: We are all being daily snowed under a wide range of products and services. Each company follows its advertising and promotion strategy while constantly tries to a larger market share. Some have found a model and process serving their means and follow it faithfully. Others try every time in a different way hoping to “rock” the waters through innovation.
Where do you think the solution lies?
Real Marketing believes that the answer lies somewhere in the middle. You should be stable on specific issues but also occasionally open to innovations and changes. The directive concerning Marketing mix (information about the products and services) must be clear and uncompromising, but at the same time Marketing dept’s ears must be open to what market wants. In this way the relationship with consumers will be stable and based on trust.
That is why, the actions you select to communicate with your customers must be:
- Clear and unambiguous from your side
- Simplefor the customer
- Stableover time
- Beneficialfor both
The actions must be simple and reflect the Marketing mix:
- What are the product’s characteristics of(product)
- Where can customersfind it (place)
- Once theyfind it,how muchit will cost(price)
- How it is communicating with customers (promotion)
Before you answer all these, the most important thing is to know yourself very well the product and the trust.
When it comes to services customers’ actions differentiate and they take into consideration different criteria than in product picking.
- Usually they create expectationsabouttheservice provided
- If they usethe service, they form a strong opinion andstayeitherhappyorunhappy – there is no Middle ground.
- If theystayhappywilluse the service againand about30% of them willadvertise. If theyremaindiscontented, then70% willdiscredit. This is also whynormallycustomersstaymoreeasilyfaithfulto aservicerather than aproduct.
Therefore the policy of the business caution, therefore promises and stable processes.
To achieve its objectives, business should:
- Knowtheservice relatedmarket
- Have already recognized a)the advantages, disadvantages, opportunities and threatsthat may existandb) checked the political, economic, social and technologicalconditionswhich (may) affectthe service
- Specify your role in the market and communicate accordingly
- Train the right people