At the beginning of the New Product Development, I carried out a market research of the new product. I identified what the market needs in their mobile phones. This included additional Sim card tools to the mobile phone such as, a digital camera, modernized games and providing a gadget that would fit in the intended market and will attract the attention of the customers. Being knowledgeable on the needs of your customers makes it easier to market the product as well as satisfying their needs as stated in the study.
When it comes to marketing, itself there are several strategies that must be followed by the marketing personnel as discussed below:
The pricing of the products entails indicating a certain value to the product. It should cater for the value of resources used when producing, for example, human resources and raw materials among others. It should also include the profit that is intended to be foregone after the sales. In my case, the product consumed a relatively higher amount of capital in the production department due to the inclusion and invention of new icons. Therefore, the price of the mobile phone is expected to be relatively higher than the normal mobile phones. For example, a smart phone would obviously cost higher than the blackberry; main reason being, the cost of production.
Organizations should find the most appropriate methods in which the product would reach the customer. The marketing personnel should be very careful when choosing the means of transport in such a way that the organization does not incur extra costs on unnecessary expenditures (Burrow, 2009). The means of transport should be safe from theft and breakage of the products being transported. The personnel should also consider the credibility of the means of transport, that is, whether it is able to access the entire targeted region of market. Besides, the cost of transportation is another consideration in relation to marketing.
In my case, the organization targets the global market. Therefore, as a marketing director I should consider all means of transport as a variety of them are needed. Transportation within the locality would obviously require cheaper and smaller means of transportation.
Distribution of goods can be confused with the transportation of the same. It entails selling into smaller amounts of the product to the wholesalers, retailers and other distribution panels. From these locations, customers are able access and buy the product.
It is an element in the marketing mix and it involves increasing the morale of customers into buying your products (Pride, 2006). Therefore it is a strategic process that requires skillful individuals on how to get people to buy goods and services. In most cases promotion goes hand in hand with advertising; reason being, they both target on increasing the marketability of the products. There are four tools of promotion
- Publicity: this involves getting the people to the existence of the product; that is, increasing the popularity of the product as well as the organization. It can be done through the social media by persuading bloggers to write about the product;
- Advertising: it is also a means of increasing the popularity of the product as well as the marketability of the product (Burrow, 2009). Advertising can be done through the social media for example the television, newspaper and the internet. Advertising is cheaper as it may convey one message, which is distributed to a large number of people within a large region.
- Sale campaigns: this involves giving awards to the customers, short terms awareness campaigns on the changes in prices. This way, the customers are motivated to buy the product in large numbers.
- Personal selling: in this case, this promotion tool is not favorable as it deals with small-scale production as well as small scale enterprises. Where applicable, it is the best option for marketing of products as there is direct contact with the customers.
In conclusion, marketing of products largely influence the success of an organization by influencing the outflow of products to the consumers. It determines the amount of profit the organization earns from the sales of a certain products. Therefore, it is important for an organization to invest largely, not only on the human resources, but also to the marketing department.
Burrow, J., & Bosiljevac, J. (2009). Marketing. Mason, OH: South-Western Cengage Learning.
Pride, W. M., & Ferrell, O. C. (2006). Marketing: Concepts and strategies. Boston: Houghton Mifflin Co.