Tuesday, 11 July 2017

Is your product really what the market wants?


Do you know an American author named Jerome McCarthy? It is his concept of Marketing Mix, still in the 60's (later super-democratized by Philip Kotler), according to him any entrepreneur with long-range vision should stick to four Ps: Product, Price, Square and Promotion.
Counting on kids, he states that the companies that are most developed in the market are those that go through a process of constant planning. It seems obvious, but the path that leads to this ability to be ever present in the market with its products is a complex art. The premise is valid for large companies and, even more, for SMEs.

Rethink the question that opens this article: Do you even have the right product or service to the public's expectations? Been in doubt? Well, know that to win in the market, you have to join the two ends: consumer and production. For this, it is necessary to test, adapt and adjust your product / service to win consumers. That's because, more than ever before, competition has become gigantic - remember that the market has never been so global as it is now - and new technologies come in every day to further complicate the landscape.

“Keep in mind, then, that the traditional business model typical of the last century, capable of creating products / services on its own initiative and going out on the field just to sell them, is already out of date. Without identifying the needs and demands of the target audience (it must be set before anything else), there is no great chance of success in today's market.” - Paypal customer support

This is where another concept comes in which I like a lot: the four Raimar Richers (Analysis, Adaptation, Activation and Evaluation), which relate more to the marketing of a product than to the production itself. Richers, a business consultant born in Zurich, Switzerland, was one of the founding professors of EAESP / FGV and wrote a key book to understand marketing in Brazil - Marketing: a Brazilian vision, unfortunately out of print.

For him, it is necessary, first of all, to identify the various players and stakeholders and their interactions with the company, through market research and marketing information system.

Then, tailor the lines of products or services to the "environment" identified after analyzing the data collected in the survey. Here Richers delineates design, packaging, brand and price, among other factors that can make a difference when it comes to bringing a product / service out of the company. And it also reflects on the importance of quality after-sales service.
A key point for success is the activation of the product / service, which depends, according to the expert in Paypal technical support, on the selection of channels for distribution, logistics (which includes delivery and storage) and good communication (which takes into account advertising properly Sales promotion, an effective system of public relations and, to a lesser extent, merchandising).

Finally, keep all this under constant evaluation. This is what Richers calls "marketing auditing."
But beware: it's no use knowing what the consumer wants if you are not able to create products / services with clear or exclusive differentials, and therefore, better than those offered by the competition.

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