What is Product Marketing?
What is product marketing? Product marketing is an influential strategic advertising function which bridges the gap between advertising communications and product management. The primary function of a product-marketing manager is first to define and identify target markets and significant value propositions. Other equally important responsibilities include sales lead generation and positioning.
Marketing managers are generally involved in the first phases of product development and are usually the ones who identify the target market and key advantages or disadvantages of competing products. It is then their responsibility to develop and employ a robust marketing strategy which will support and enhance this identification and positioning. These marketing strategies will in turn be optimized through comprehensive research and testing. Once the marketing strategy is established, it is tested and refined. In some cases, the market will be re-examined in order to ensure that the final positioning is appropriate and to ensure that the product meets the needs of the customer.
Every company, irrespective of its size, must have a good product marketing strategy in place. It must be made in collaboration with the rest of the team and implemented efficiently and effectively. However, how can you measure the effectiveness of your product marketing strategy? You can refer to the’Customer Relations Manual that most product marketers require to create and maintain a strong and productive working relationship with customers.
This manual ensures that product marketing helps sales teams by defining product market niche areas and identifying prospects. It also highlights the importance of creating a strong brand image for your product, establishing your credibility and positioning your product for success. The Customer Relations Manual ensures that product managers take every opportunity to understand the buying behaviors and patterns of the buying audience and determine which words and phrases will resonate with your target audience and which will not. It helps product marketers by defining and documenting the metrics that are associated with each aspect of the purchasing process – from product introduction to the point when the buyer makes a purchase decision.
What is product marketing focuses on creating and nurturing customer relationships. Traditional marketing focuses on creating a customer base by selling products and services to people who have no use for them. What is product marketing focuses on ensuring that the customer is aware of your presence and what you have to offer. Traditional marketing usually focuses on acquiring new customers whereas what is product marketing focuses on retaining existing customers. A successful product marketer is one who is able to convert a prospective customer into a client through effective communication.
What is product marketing is about positioning your product, service or logo in a specific way that is attractive to your target customers. The basic goal of any marketing strategy is to capture the attention of the target customer and position them as an important customer for your organization. It is about positioning the end-user for repeat purchases. Traditional marketing campaigns focus on the end-user and the logistics of how and where they will find your product or service. The focus of what is product marketing is on positioning your product, service or logo in a way that enables you to drive targeted traffic to your website. The ability to create a powerful message, communicate with the target customer and position your product or service as a necessity rather than an optional extra is what is product marketing all about.