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How to Create Effective Marketing Campaigns

Part I | Product Development

Step 1

Determine if you need to change your product or packaging to better compete in your marketplace. A menswear store might consider adding boys clothing. A hair stylist might benefit from adding facials, manicures and pedicures and becoming a full-service salon.

Step 2
Develop a brand, image or position for your product or service in the marketplace. Your brand might be that you offer low-cost quality or that you provide high-end service. You might offer name brands or focus on servicing what you sell. You can position yourself as the destination of young, hip consumers, or sensible, practical seniors.

Step 3
Price your product to achieve your marketing goals. Once you know what you need to charge to make a profit, determine if you will undercut your competition, sell at a competitive price or price yourself higher. A low price positions you differently than a high price in the eyes of consumers. A low price decreases your profit margin but can help you take market share from higher-priced competitors. A high price might reduce sales but gives you higher margins and might position you as a higher-quality product or service.

Source: smallbusiness

About LaraNet: We are a web design firm focused to help you to grow your business and communicate with your customers and prospects using two simple but powerful tools: 1) Interactive Website and 2) Internet Marketing Strategy on social networks like Facebook, YouTube, Twitter, LinkedIn, etc… Whether you want to work with just a web page, or launch or improve your presence on Facebook, Google+, LinkedIn or communicate with your customers through newsletters, or improve the location of your business in the search engines through Search Engine Optimization, or start marketing your products or services online, in LaraNet we can help you.

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