Marketing doesn’t stop once a product enters the market, it is something that should be done continually to promote sales. This article will explore the product marketing mix with examples, as well as the salary a marketing manager earns. Let’s go!
What is Product Marketing?
Product marketing is the process of bringing products into the market. In other words, it means promoting and creating awareness in the minds of consumers to be able to use the products perfectly. In addition, it is the process of understanding the product’s target audience and using a good strategy to boost revenue and also generate sales and profit.
Goals of Product Marketing
These goals focus on the different steps individuals take to buy products. also, on how product marketers implement and execute campaigns to support the sales of goods. Although, it is usually hard to gather information on the needs of your target audience, and how you can meet their needs. It is also hard to identify the best campaign you can use to introduce your products in the market.
Remember, no marketing, no sales. In addition, marketing goals focus on having a good understanding of your customers, ensuring that the sales team is on the same page, setting the product properly in the market, and learning more about who your competitors are.
Steps of Marketing Your Goods
#1. Product research
Before a product enters the market, the product marketers work with the manufacturers of the product to test the product both externally and internally through a well-controlled environment.
#2. Story of the product
The story of the product determines what problems the product can solve, and how the problem can be solved.
#3. Product focused content
In product-focused content, product marketers create content to sell products to customers.
#4. Product launch plan
Without a well-written launch plan, spelling out every last stage of the marketing process is never complete. In other words, marketing is incomplete without launching the products.
#5. Product launch meeting
After launching products, everybody involved meets on the last day for the final meeting. In essence, the product launch meeting is the climax of a marketing campaign.
#6. Community engagement
This stage includes reaching out to customers, distributors, influencers, and different partners.
#7. Sales enablement
The sales enablement ensures that the message created for this product is consistent and gets to customers at the right time and at the right place.
What Does a Marketing Person Do?
They focus more on marketing and making sure that potential customers get to know more about the goods and services they are rendered. Every product marketing person or manager works closely with other product managers, designers, and stakeholders in the product launch. Their functions are:
- Work with colleagues across different departments throughout the product’s life cycle.
- Promotes sales
- Work in an intersection of developing products
- Make market research and apply the best findings to the process of development.
- Oversee responses from customers and react as necessary to any feedback.
- Help in suggesting improvements to future iterations of the product.
- Help in creating good content to generate more sales.
- Coordinate efforts with good strategists across various marketing disciplines
- Converting customers into potential and paying customers.
Product Marketing manager skills
- Understanding the needs of customers
- Asset development
- Negotiation
- Project management skills
- Communications skills
- Telling of stories(Storytelling)
- Experience in campaign management
- The capacity to prioritize responsibilities across projects.
Why Is Marketing Important to Your Business?
It is very crucial to both small and big organizations as it helps in the production and development of products. It helps in meeting the needs and satisfaction of the target audience. In other to achieve this, you must engage in identifying new market trends, making sure that products meet the demands of customers. have direct and more comprehensive communication with customers.
How to Market Your Product to Your Target Audience
Marketing is a crucial and important aspect of making sure that products get to the right individuals. In other words. it is a must-have in every business because it helps in promoting and creating awareness among the people who really need your products. Also, IT earns you more money. Here are tips on how you can properly market your products:
- Always publish product-focused content on your website or blog. Creating good content about your products on your blog attracts high-paying customers and sign-ups on your website.
- Comarket your product with selling and similar brands. Comarketing is a good way to advertise and move your business to the next level. Make short videos with other brands, write a collaborative blog post, and run a webinar.
- Launch PPC ads
- Ensure the creation of a marketing deck for other team members.
Is Product Marketing High Paying?
The average hourly salary of a product marketing person is about $50.90. According to research, in the United States, the total wage of a marketing person or a manager is 130, 000.
According to research, and recruiters’ estimates, the highest-paying marketing jobs are in California, Washington, and New York. Basically, the national average wage for a marketing person or a manager in the United States is $118.572. In addition, there are other paying cities like mountain view, San Francisco, Los Angeles, and San Jose in the United States with an average annual mean salary of $221,000, with an hourly wage of $106.25.
What Is Product Marketing Mix?
Products marketing mix refers to the marketing strategy every marketer use in promoting sales. In essence, There are four P’s of product marketing mix and they are:
#1. Price
Price is the considerable amount a product is sold at. It is very crucial to set a standard price that also reflects the new trend of the market.
#2. Promotion
Promotion of a product creates awareness in the minds of customers for a better understanding of how to use such products. It is also meeting the target audience with the right message at the appropriate time.
#3. Place
This is the location where products are produced and finally distributed to the final consumers. Thus, it entails where the product is stored and sold.
#4. Products
Products are raw materials manufactured and turned into finished products. In essence, products are commodities that an organization provides in the market to satisfy the needs of every consumer. The product must meet the satisfaction and the needs of the customers.
What Is Product Marketing Manager
A product marketing manager is an individual who is responsible for the creation and distribution of highly promotional campaigns and helps in branding products to generate good sales. Also, a marketing manager is one who does market research for a better understanding of the trend of the market so he can get good ideas on how to meet the needs of customers.
In addition, a product marketing manager is responsible for providing a voice for products which means they speak on behalf of the products and the organization. They are also focused on answering different questions from customers which creates a line of communication.
How Much Do You Make in Product Marketing?
How much salary you earn whether hourly or monthly totally depends on the location and the skills you have. For instance, an employee in an organization who has better skills than the other gets more pay and is often promoted than the other.
Product Marketing Examples
Marketing efforts focus more on attracting potential and paying customers. Here are product marketing examples:
#1. Apple
The Apple product is one of the product marketing examples that stumbles more on the marketing front. It is a household name for the best leading technology software and products. It started after steve jobs pitched the iPhone as an iPod, an internet communicator, and a phone. Basically, the first-ever iPhone launch in the year 2007 was what lead to its success.
#2. Simon Data
Simon Data is one of the product marketing examples located in New York. it was co-founded by Joshua Neckes. In addition, it is an enterprise customer platform for data in the b2b space.
#3. The coca-cola company
In the year 2014, coca-cola launched the Share a Coke marketing campaign. The campaign actually helped in boosting sales for Coke company. Additionally, this marketing amounted to a reinvention of a classic product.
#4. Mailchimp
Mailchimp is one of the product marketing examples located in Atlanta, Georgia. This product began as a newsletter and email platform but changed into an all-in-one marketing suite.
#5. Harrys Inc
Harrys Inc is also one of the examples of product marketing that lets prospective and potential customers experience their blades from the onset. Overall, this company offers every new subscriber a special trial and a good steeply discounted starter kit, and free shipping to the customer’s location.
#6. Fenty Beauty
Fenty Beauty is one of the examples of product marketing located in San Francisco, California. Thus, it is a multi-billion dollar company led by business mogul and popular singer Rihanna. Basically, it offers cosmetics for varieties of skin tones. In other words, it features models with a vast spectrum of skin tones.
#7. HubSpot
HubSpot is one of the product marketing examples that is located in Cambridge, Massachusetts, and focuses on inbound marketing. According to current research, HubSport is a marketing company mainstay whose growth platform boats over 150,000 users.
What Is Product Marketing for Dummies?
To a layman, it means the process of introducing a product to the market, distributing and selling it to the final consumers.
What Is the Difference Between Sales and Product Marketing?
People get so confused between these two words, they are totally two different things entirely. Having a better understanding of both will help you have a better plan.
While sales is a one-to-one approach and product-oriented, product marketing is a way of analyzing the market and pricing strategies. It is product-oriented. In addition to this, product marketing is a way of attracting a larger audience, whereas sales help to convert products and services into profit.
Product Marketing Salary
Product marketing salary differs from one location to another. It depends on so many crucial factors; your skills, your number of years in the profession, the certificate you have, and your education. The average product marketing salary in the United States as at the 1st of May 2023 is $138,963. Here is the product marketing salary in different countries:
- In Canada, the average product marketing salary is $47,500 annually.
- The average product marketing salary in Portugal is $22,930 per year.
- In Ireland, the producing marketing average salary is $50,000 and $57, 000 if you earn more.
- In India, the product marketing average salary is INR 19,418 per month ($254)
- In the USA, the average marketing salary is $50,676 per year.
Conclusion
Product marketing is the process of understanding the product’s target audience and making use of a good strategy to boost revenue and also generate sales and profit. Remember, No sales without marketing. In addition, marketing doesn’t stop once products enter the market, it is something every product marketing manager must do continually to promote sales.
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