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Product Marketing Strategy.

Mr. Arun Tyagi, GM, Marketing, IndiaMART, shares his expertise and experience on the subject, Product Marketing Strategy with IILM students as a part of guest lecture.

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Product Marketing Strategy.

  1. 1. Product Promotion What. Why. How ARUN TYAGI General Manager – Marketing IndiaMART.com IILM, Greater Noida, 23 July 2010
  2. 2. Why do we buy the television we watch, the cars we drive, and even the toothpaste we use? Answer is PRODUCT PROMOTION
  3. 3. What is Marketing? <ul><li>Anything and everything you do to persuade your customer to buy your product </li></ul><ul><li>Ultimate objective of marketing is to generate INTENT to buy the product </li></ul>Marketing Cycle
  4. 4. <ul><li>Creating buzz around your product with an aim to sell it </li></ul><ul><li>How does it work? </li></ul><ul><li>Address 4 strategic questions: </li></ul><ul><li>What are the objectives ? </li></ul><ul><li>What product is to be offered? </li></ul><ul><li>Who is the target audience ? </li></ul><ul><li>What is the communication to motivate the target audience buy the product? </li></ul>What is Product Promotion?
  5. 5. Communication Benefits Pain Areas/ Needs Aspirations Map That is Product Target Audience
  6. 6. <ul><li>Product or Service </li></ul><ul><ul><li>Tangibility is the key differentiator </li></ul></ul><ul><li>Distinctive Attributes </li></ul><ul><ul><li>Usefulness </li></ul></ul><ul><ul><li>Innovation </li></ul></ul><ul><ul><li>Convenience </li></ul></ul><ul><ul><li>Value </li></ul></ul><ul><ul><li>Quality </li></ul></ul><ul><ul><li>Packaging </li></ul></ul><ul><ul><li>Branding </li></ul></ul><ul><ul><li>Design </li></ul></ul><ul><ul><li>Technology </li></ul></ul><ul><ul><li>Process </li></ul></ul><ul><ul><li>Experience </li></ul></ul>What is Your Product?
  7. 7. <ul><li>Demographic Profile </li></ul><ul><li>Geographical Location </li></ul><ul><li>Culture </li></ul><ul><li>Behaviour </li></ul><ul><li>Needs </li></ul><ul><li>Aspirations </li></ul>Define Your Target Audience Customer Insights • Listen • Observe • Think • Walk……like your customer
  8. 8. <ul><li>Analyse needs of the target audience </li></ul><ul><li>Find out how product satisfies these needs, better than competition </li></ul><ul><li>Align your communication on addressing these needs </li></ul><ul><ul><li>Clearly define your messages </li></ul></ul><ul><li>Follow AIM: </li></ul><ul><li>Attract... Inform... Motivate </li></ul>Define Your Communication
  9. 9. Key Elements of Product Promotion Advertising Direct Marketing Public Relations Display Merchandising Sales Promotion
  10. 10. Newspapers TV Channels Social Media Online PR Sites Direct Mailers Events Out-of-home Media Internet Radio Weigh Your Options of Promotion Vehicles… I’l go wherever my target audience goes....medium is secondary
  11. 11. Public Relations Product Promotion Process
  12. 12. <ul><li>Online B2B Matchmaking/Marketplace Platform – the product </li></ul><ul><li>Small & Medium Enterprises (SMEs) – the target audience </li></ul><ul><li>Mapping IndiaMART's benefits with SMEs' pain areas – the communication </li></ul><ul><li>Solutions </li></ul><ul><ul><li>Free Registration , pay for premium </li></ul></ul><ul><ul><li>24X7 online presence </li></ul></ul><ul><ul><li>Reach out to national & global buyers & receive business queries </li></ul></ul><ul><li>Key Challenges </li></ul><ul><ul><li>Cost </li></ul></ul><ul><ul><li>Time </li></ul></ul><ul><ul><li>Distance </li></ul></ul>Case Study: IndiaMART.com 2008 2009 2010
  13. 13. Thank You ARUN TYAGI [email_address]