Drive Your Products Success
Marketing is the Critical Factor to a Products Success
A great product doesn’t go very far if potential buyers are not aware of it, or do not fully understand its value. Many great products have failed because they were not launched and marketed effectively. That’s where an Astute product marketing consultant comes in.
Effective product marketing starts with research and analysis, it’s driven by goals and led by a strategy. That’s just the beginning of a plan, there is much more that must be done to increase revenues, accelerate growth and drive its success. Don’t worry, our product marketing consultants will help launch your product with a big bang and achieve its full potential.
Strategic Product Consulting
Astute Group provides strategic solutions for product and service offerings.
Product Launch Consulting
We will make sure the world knows about your new bundle of joy, your great new product.
We will develop the roadmap to success for your new offering. Identifying where the opportunities are and positioning the offering to add value in target markets.
Before developing any new offering, a thorough analysis of competitors and markets is critical, we can help.
The Astute Difference in Product Marketing
A product or service is purchased for only one of two reasons, price or value ©
Perceived value is the driving force in Astute Group’s product marketing strategies. Our ultimate product marketing goal is to create a high value perception which negates the importance of price and achieves favorable profit margins. It also makes decision making easier for buyers, propelling the offering to the top of the list. That’s just one component of The Astute Difference.
Over 30,000 new consumer products are launched every year,
at least 80% of these products fail. *
*Clayton Christenson, Harvard Business School
Segmentation, Targeting and Positioning- STP
differentiated vs undifferentiated
Market segmentation, targeting, and positioning enable organizations to clearly understand how they can serve current and potential markets. They provide a framework for profitable organic growth. STP identifies opportunities and clarifies the balance between products and markets.
Product Pricing Strategy
Price is a primary component of a positioning strategy. A product or service that is positioned as superior to others will increase value perception. The greater the perceived value, the less price is a factor. After all, every product is purchased for either price or value. A strategy of being the least expensive is not a strategy at all, it’s a sacrifice.
The foundation of the Astute Difference is Return on Investment (ROI) focused Marketing. Determining the optimal product pricing model is extremely challenging.
Of course, pricing directly impacts ROI, the higher the price, the greater the profit margin. That is the easy part. The challenge is determining what is the ideal price that achieves a delicate balance between purchasing volume and profit margin. If priced too high, sales volume will decline. If priced too low, sales volume will increase, while margins suffer and money is left on the table. The challenge becomes even more complex once we add in pricing for volume discounts, distributors, resellers, and other indirect sales channels.white-label (nonbranded offerings) and other price centric concerns, and you’ve got a major issue to address.
We have the experience and expertise needed to identify the right price. The price that keeps a balance between profit margins and sales volume. Some products or services may require a pricing table for the above-mentioned factors, we have developed hundreds of them. Including a pricing formula for a client that had over 3,600 products that we’re available through various channels, and had four levels of volume discounts. We developed a formula for each product line that calculated all of the pricing tables.
Given a choice, most buyers prefer the product with a brand name. Branding a product adds value and can create a perception of higher quality and worth. Branding also increases profit margins and overall sales!
Real branding goes beyond a catchy name and a logo, check out our branding strategy page to understand how we develop a brand, that includes product, services and even functionality that may be shared across several product lines.
Some of the greatest brands in the world use one brand identity for the organization and product offerings. While others separate the organization’s brand name from the product offerings brand identity. There are numerous factors to consider when determining the right strategy for your brand. A smaller organization may stick with one brand to generate awareness as quickly and efficiently as possible, which could create issues later. On the other hand, having distinct brands for the organization and product offerings requires greater effort, may take longer, and increase costs. Yet, the long term rewards may be financially advantageous. That’s just one possible scenario, as product offerings and product lines increase, the challenge becomes more complex. Fortunately, a Product Marketing Consultant from Astute Group will develop the optimal strategy for your situation, one that will convey the desired perception and achieve your goals.
Marketing and Sales Channels
That’s different for every product. Don’t worry, we got this. We will work with you to develop a sales channel strategy and determine what channels are best for selling your product. Then we’ll implement the tactics to gain the greatest return through each channel.
Promotion, Awareness, and Messaging
Get a Complimentary Assessment
The Value is Priceless, The Cost is Free. No Commitments, No Hassles, No Fees.
- Gain the insight of a seasoned expert
- Identify gaps and areas that need improvement
- Explore a fresh perspective from a 3rd party that has no bias or preconceived opinions
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