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[Insert university]
Abstract
Marketing for long has been considered a means to spread product awareness, but off-late it has become an essential part of consumer tapping. With the ever changing demographics the consumers are fragmented and a product or brand has to get into selective marketing to sell and establish a well-reputed brand. This rapid transformation has shattered the traditional practice of marketing, and given rise to various means which helps in productive consumer tapping. It has changed the entire process of product launch as well. Earlier the products were launched based on the perception that a consumer had no choice but to choose from the options made available to them. The ever increasing competition has made consumer tapping a tough job, and now even before designing a product the views of customers’ has to be considered. Surveys shape a company’s future planning, pricing and product launch. Today there are host of marketing options, and each one has its own target base and advantages. A brand use the means of all marketing methods, but it may not serve the purpose intended. Channeling equal amount of resources into each one of them may not be a good idea too. However, identifying the future prospect, and the potential customers through surveys will help a company manage its operations better which will save cost. The ever changing buying pattern has made presence of online stores as essential as a physical store. It calls for effective distribution channels, which is a necessity for tapping consumers in an effective manner.
Introduction
A device which will make carrying things of daily usage easy is always sought. A trendy sports caddy with slots enough to hold not just ID cards, but keys, medicine, and water bottles as well will be sold off the shelves in no time. A product with such usability will need proper a marketing plan and distribution channels.
Consumer Survey
Consumer surveys help a firm identify consumer behavior. It establishes a link between demand and supply. The geographical pattern of customers will be beneficial in establishing an effective supply chain. Surveys provide for an opportunity to interact with customers and know their expectations (Levitt, 1960). Appropriate funds for personnel and marketing expenditure can be diverted to regions with high demand for sports caddy. The launch of the product should be followed after a well - researched consumer survey. For undertaking a survey, it is always advisable to involve company personnel as they know the product better.
An effective Distribution plan
Equipped with the survey report the company should focus on its distribution network. It is advisable to partner with existing distributors as they have required infrastructure and expertise. The product should be stocked based on the demand as it lowers the overall distribution cost (Kotler & Keller, 2012). In addition to the selling the product in physical stores, the firm should have online stores too. Amazon, E-bay is a natural choice. Apart from these, websites, catering to a particular niche should be taken into consideration too. The presence of sports caddy in military stores and sports stores will boost sales.
Marketing & Promotion
A marketing campaign is determined by the firm’s size; however, it should focus more on highlighting the product (Drucker, 1993). The best features about the sports caddy and how it is better than the competitors should be the focus of marketing. Print, television and websites are a few marketing channels. The simultaneous usage of all the marketing channels will lead to more awareness about the product. The marketing campaign need not be glitzy with the presence of athletes, but efforts should be made to make it more informative.
Special promotional offers will lead to better sales. Promotional offer may include distribution of vouchers, providing long warranty and easy return policy. The product display and trial at various places like sports club and malls will help in promoting and direct connecting with the target customers. Marketing & promotion are crucial aspects and special emphasis be laid upon them. They nonetheless, will consume a lot of time and finances of the company, but it is a necessity for effectively marketing the product (Kotler, 2005). A company may want to start with a small pilot project as mistakes can be rectified and corrected easily.
Communicate with Customers
Several companies have failed to attain success in marketing their products owing to the lack of communication with the customers. It is an important step towards establishing a bond and making these customers loyal to the brand (Kotler & Keller, 2012). Communication is not restricted to only addressing consumer grievances alone, rather it acts as an excellent marketing tool. Festival seasons, and special events like marathon and exhibitions serve as an excellent opportunity to communicate with the consumers.
Sales representatives of the company may interact with the customers directly, which will not only provide the company with valuable inputs, but will ensure a customer can associate more with the product. Direct marketing through website and television channels also provides an alternative. In addition to the feedback form, verbal communication is very essential, as customers prefer to speak about a product than write.
References
Drucker, P.F. (1993). The Practice of Management. HarperCollins Publishers, Inc., NY
Kotler, P. and Keller, L.K. (2012), Marketing Management (14th ed.). Pearson Prentice Hall publisher chap 1-22
Levitt, T. (1960). Marketing Myopia. Harvard Business Review (July-August). Harvard Business Publishing: Boston, M
Kotler, P. (2005). Marketing Management (12th ed.). Prentice Hall. New Jersey.
