Hello, I’m Jim Glover, That Branding Guy, for Once a Day Marketing™. Today is Smart
Monday and we are discussing marketing guru Philip Kotler’s work on
five different philosophies for introducing a product into the market place
Sometimes
there is a product looking for a market and sometime there is a market looking
for a product and you have to decide which situation applies to your brand.
First is the
production concept, creating a low
price product that is readily available and widely distributed.
Second is
the product concept. In this scenario you have created high end
product that has many features and benefits for the consumer.
Third is the selling concept. In this instance, you believe that people won’t seek the product on their own and sales will be driven by heavy marketing and promotion.
Next is the marketing concept. This is used frequently today, and consists
of designing your products to fill the needs of customers.
Last is the societal concept. Similar to the marketing concept, this takes
into consideration the individual, people in general and the environment when
creating a product that is a win for everyone.
The selling
approach is starting to be replaced by social media inbound marketing. Rather than heavy, aggressive marketing it’s
more subtle; potential customers find your message and follow it back to your
business and product.
Evaluate
your product and your goals to determine which of these philosophies is going
to work best for you.
Once a Day Marketing™ positions brands to become #1 in the minds of target customers. Visit our website at www.onceadaymarketing.com. Contact James Glover at (505) 501-1330 or email glover@onceadaymarketing.com. Listen to Ask Those Branding Guys™ every Monday at noon (MDT) streaming live on SantaFe.com KVSF 101.5 FM.
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