Sample Essay
With so much competition in the corporate sector, marketing has become a major deciding factor for the success of the product. Several low cost products enter the market but fade out even without being noticed. This is because consumers do not know that they exist in the first place. Hence, you cannot expect your product to do well if it is not marketed well. The next step is planning the marketing aspect.
Your planning is done according to the nature of the product. Luxurious products have a slow marketing procedure because they have irregular sales. On the other hand, FMCG (Fast Moving Consumer Goods) need to be marketed in a very powerful manner. This is because countless companies make the product categories and each of them has a targeted set of consumers. If you want your product to do well, you need to get the attention of these consumers. The marketing campaign should throw light on the exclusive factors of your product. We can consider soap as an example. All soaps carry a nice fragrance but that is not what people care about. If your product provides a higher cleanliness level and has a low price, you can use this as a striking point.
Marketing aspects change as products travel from one phase to the other. When a consumable is fading out from the market, companies do not spend large finances on promotion.
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