Discussion on Product Marketing Plan

Thinking patterns influence strategies and strategies determine results. By analyzing the sales of drinking glasses, today, we are going to talk about different thinking patterns for product marketing strategies.

A red wine company, for instance, intended to sell its drinking glasses; however, the responsible persons and the business owners held different opinions on the pricing. Business owners didn't agree to set the price so high, which was almost twice of the original price and believed consumers wouldn't be willing to pay so much for a drinking glass. Yet responsible persons had faith in their strategies and convinced the others to finally accept such a high pricing.

Below is their creative marketing strategies:

Sell point 1: considering the use value, set the price  3 RMB/glass

Sell point 2: considering the cultural value, set it 5 RMB/glass

Sell point 3: considering brand value, set it 7 RMB/glass

Sell point 4: considering it's a complete set of glasses, 15 RMB/glass should be acceptable

Sell point 5: considering the extended function value, set it 80 RMB/glass

Sell point 6: considering market segment value, set it 188 RMB/set

Sell point 7: considering the packaging value, set it 288 RMB/set

Sell point 8: considering the commemorative value, people will buy it even it's 2000 RMB

The importance of product marketing strategy

1. Solve the conflict between production and consumption and meet the demand from both life and production. The goal of marketing is to well balance production and consumption, so as to benefit both producers and consumers.

2. Realize the value of commodity and add more value to it. A successful branding strategy shall make the products' value and its additional value get recognition from both consumers and the whole society.

3. Effectively avoid wasting society's resources and enterprise's resources. Marketing strategies and actions are usually made according to the actual demand of customers, so that the products in stock will be sold out as scheduled, which is a good way to make use of resources on hand and avoid any kind of wastes.

4. All the products are produced on the basis of customers' demands, in a result, people's living standard and living quality are elevated at the same time.

How to plan the product marketing strategy?

1. Analyze the marketing environment of the products and the strengths and weaknesses of the product itself to beat your rivals;

2. Get the key factors: market position, TA, precise position, channel distribution;

3. Dig the product's values based on the above factors;

4. Convert the product values into specific purchasing needs and promote them to TA;

Prepare a detailed marketing plan according to the  above points.