In a process of marketing products to consumers, there are various aspects of marketing that cannot be ignored by every business owner. Marketing activities themselves can be interpreted as a process to maintain the life cycle of the products that have been produced. Well, in this process the marketing aspects are the important points.
Market segmentation is an activity to identify and divide the market based on consumer characteristics. Generally determined by age, socio-economic level, regional peculiarities and special circumstances of a consumer. For example, having taboos on food products or only consuming certain food products. Generally this is influenced by health conditions. This market segmentation activity can provide a specific picture of the company, about how the product is produced. Whether the product or service can satisfy consumer needs. This activity can also optimize the existing resources in the company. Thus, the resulting product can be targeted and efficient.
Market Condition Analysis
Market conditions are used to determine consumer tendencies towards certain products or services. Analysis of market conditions is carried out to understand the purchasing power of a consumer in meeting the needs to the stage of being satisfied with these needs. So that manufacturers can analyze competitors and also forecast products that will be released to the market. This market segmentation will run effectively if it can be carried out broadly, measurably, affordable and can cover all the programs that have been planned by the company. Thus, consumer needs can be identified specifically and can be met appropriately by the company.
Competitor analysis is one of the important things in the marketing aspect of a product, service or idea generated. Competitors are rivals that produce products that are almost the same or have similar usability. This analysis is carried out to determine the strengths and weaknesses of the product so that the appropriate marketing strategy can be determined for the product. In competitor analysis, it is necessary to identify competitors, targets and strategies carried out by competitors, reactions and strategies carried out by competitors. This activity can be done to predict the current and future competitive landscape. So, the right innovation can be done on the product or service produced.
Promotion is a series of activities carried out by producers with the aim of introducing a product or service produced to the market. This activity can build the level of consumer confidence in the product. So that it can increase sales, demand, profit and value of the product. This marketing strategy can be done by providing special promos in certain months, extra purchase promos, certain price games, promos by highlighting product quality as well as promos for certain uses. This promotion can be done either through print or electronic media. The right marketing analysis can optimize company resources and increase sales. So that it can increase demand and profits from a product or service produced.
Product Specification and Product Differentiation
Product is anything that can be in the form of goods or services offered to consumers. These goods or services are expected to fulfill their needs while giving them satisfaction. The details about the products that will be offered to consumers are part of the marketing aspect. The product specifications include, for example, what is the physical form, what is the brand, how is the product packaged, is it accompanied by a warranty and so on. You can develop a new product if you already know exactly what the needs and requirements of the market are. This is because it is impossible for you to market a product if there is no potential and continuous demand from the market.