Product Marketing Consulting
Product Marketing that Drives Demand
Astute Groups product marketing consultants are experts at developing and implementing strategies that generate demand for the product or service offerings. The greatest, most incredible product in the world will not succeed without creating awareness in the right markets. Great products need great marketing to achieve their full potential. To do so, we focus on optimizing perceived value to negate the importance of price, enabling higher margins.
- Launching New Products or Product Line Extensions
- Driving Growth for Existing Products
- Entering New Markets
- Improving Profit Margins
- Improving Image and Percieved Value
How We Help
- Generate Demand for Offerings
- Gain Market Share
- Negate Importance of Price to Increase Margins
- Penetrate New markets
- Create Rational and Emotional Appeal
- Optimize Product/Market Fit
Our Approach to Product Marketing Consulting
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 achieve the right balance of volume and profit margin. Developing a value perception that is a fit for target markets negates the importance of price and achieves favorable profit margins. It also simplifies decision making for buyers, propelling the offering to the top of the list.
Our product marketing consultants are experts in go-to-market planning. We will develop the right strategies to drive the success of your products and services.
We will make sure your products hit the ground running with a thorough and highly effective product launch strategies that address every aspect. We’ll make sure all sales channels are up to speed and that the right messages are reaching target markets.
Knowledge is power, especially when its competitive intelligence and product knowledge in the hands of the sales force. We work with your sales team and any sales channels to prepare them for the battle. Training, competitive intelligence, reference tools are just a part of how we empower your sales force.
Over 30,000 new consumer products are launched every year,
at least 80% of these products fail. *
*Clayton Christenson, Harvard Business School
Our client had an innovative product that provided significant improvements and benefits in the right application. The sales team was leading with this product on sales calls and losing opportunities. We interviewed customers and lost opportunities to completely understand what drove their decisions. We then conducted testing, market research, and competitive analysis to develop a strategic plan.
By identifying market segments that were a fit for the product line, training sales, and distributor channels, developing internal tools for sales, developing the right messaging, and sharing it through the best mediums, we were able to drive a total of 1000% growth (10X increase in sales).
Positioning and Differentiation
With so many choices in todays extremely competitive global marketplace, differentiation is critical. Identify target markets and position products to clearly convey why they are a great fit for those markets. The better the Product Market fit, the greater the value, which negates the importance of price.
Market positioning enable organizations to clearly differentiate their offerings from competitors. We focus on clearly identifying why your offerings are the right choice for the customers targeted.
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Pricing Strategy – Product Marketing Consulting
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.
Product Branding – Product Marketing Consulting
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.
Channel Development – Product Marketing Consulting
What’s the most effective way to get your product out to buyers?
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.
Sales Enablement – Product Marketing Consulting
Just like any other job, the right tools make it much easier to perform and improve the results. Your sales team needs to be empowered with all of the information available about your product, as well as competitors products, and how you position against them. They also need quality materials to show and tell your story. We’ll develop the right tools and collateral to help accelerate sales.