Monday, May 01, 2006

The Importance of the Right Product

It does not matter if an organization hires the best CMO or the best marketing staff - if the product is not what the consumer desires, the chances for great success are limited. So, how actively are you watching the market? Are the consumers looking for what you have to offer?

In this world of internet marketing, marketing is no longer about one-way communication. The key is engagement. How many times can you make contact with your prospective customer? Chat and instant messaging must now be a part of your business environment. People are busy and they are looking for instant gratification.

Constant, ongoing research must be done to make sure you are offering the right product at the right price point. I am not suggesting that you as a business owner go out and spend thousands on highly scientific research, but I do think that it is important to ask people that you are meeting about your business. Some questions to ask may be shaped like, "Do you have a need for my product or service" or "What forms of advertisement do you notice the most?" This will help you in understanding the psychology of the person that you are trying so hard to reach.

The best method that I have to constantly remind myself about is the KISS method (Keep it simple stupid). Sometimes this is hard to do as marketers, but it is usually the best possible way to market to the consumer.

Happy Marketing!!!