Hello, I’m Jim Glover, That Branding Guy, for Once a Day Marketing. Today is Smart Monday. We have a great topic today and before I begin I would like to thank you for following our blog. I hope you are improving your business by marketing every day and, if you are marketing every day, that you are seeing the results.
Today we are going to revisit 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 product.
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 with a high price 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, especially 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. Consider, for example, that local/sustainability and being “green” are growing trends, however, customers don’t always buy green if it’s a lot more expensive.
So, again, you have to decide which of these five strategies is going to work best for you.
That concludes Smart Monday. Join us tomorrow for Strategic Tuesday. To discuss an online or face to face service engagement and enhance the marketing and branding for your organization, contact James Glover: (505) 501-1330 or firstname.lastname@example.org. I’m Jim Glover, That Branding Guy, for Once a Day Marketing and we’ll see you next time.