Communicating…

Product Development Strategies

• Product Development Strategy Questions– Is there a market for your product?– How big is the market?– What share might you obtain, of the market?– Who are your competitors?– What substitute products exist?– Is it ‘Needs’ or ‘Educational’ based marketing?– How should the product be developed?

Research• Research can take many forms, including:-

– Consumer Forums/Workshops/Clinics– Desk research– Internet research including:-

• Google, Forums, Wikipedia– The Telephone– Ask the channel, ask potential customers

• Research all aspects of your offer• Who to do the research?• Or get on and just do it!

Research Out Comes• Better understand:-

– Demand and where the demand is– Where the pricing point is– What quality levels are required– Packaging requirements– Means of distribution– What features of the product create the demand– Understand your potential market

• Produce a clear Product Development Strategy

The Product life Cycle (PLC)

Positioning Your Company

• Develop a unique Quality position• Introduce a unique Guarantee• Develop ‘Unique Selling Points’ for

– Your products– Your services– Your marketing

Developing the means of Distribution

• Develop a unique means of distribution– Just as important as developing your product

• Ease of purchase• Ease of delivery• Ease of unpacking and using

– Instructions are just as important as the product• Customer support, service, returns• Prospect, Customer, Advocate

Who do you want to sell too?Business to business

• Vertical market• Market segmentation• Decision Making Unit (DMU)• What motivates the buyer• Match product to the need in the market

Who do you want to sell too?Consumer

• Sex• Age• Position in family (responsibilities)• Problems• Income• Lifestyle• Interests• Image• Influencers in the market

The Sales Continuum

• Analyse the existing Sales Continuum• Will the market bear a different Sales

Continuum?• AIDA

– Attention, Interest, Decision, Call to Action• But yours will be much more detailed!

Share of Mind – Share of Market

• Write copy that sells!• Build share of mind• From share of mind comes share of market• From share of market come profitable sales

Good Luck!

Summary

Consider all aspects of the means of:

• Manufacture

• Distribution

• Communications

In a profitable way!

Communicating

Chris RobinsonCommunicatingBusiness to business marketing023 8028 2366

www.communicating.co.ukChris@communicating.co.uk

My business is marketing your business