Many a times it is seen that a very good product fails and a poor one makes profit. The reason for the failure of a good product is that the right customers are not aware of it. Whenever a particular product is launched in the market it is imperative to know who would be its prospective customers e.g. take a product like aging cream selling at $40. The target market for this product would be women in the age group of 30-50, who can afford such product.
Therefore, it is necessary to keep the focus on them i.e. launch the marketing strategy so that women of this age group become aware about this product. E.g. firstly it is important to know the demographic pattern i.e. what is the percentage of women in a particular area who fall in this age group. What are their favorite places for shopping, hanging out or which TV show they watch most? The advertisement is done in such a way that the maximum no. of women in the target market notices them. This increases the awareness about the product. So, it is extremely important to know the target market and create a want in their minds for the product.Such Strategies are called Sales Lead Generation.
Another deciding factor for a product’s success is to know who are the people who can be turned into customers at a later stage .There are strategies by which such tasks can be achieved. There are reputed marketing companies which specialize in Sales Lead Generation; they have a strong database and years of experience behind them. There are numerous examples where many products have been extremely successful because they took the help of such companies.
18.08.08
