You have a great product or service on the market. But you also have the feeling that it’s not doing well enough or that you could be getting even more out of it. You’d like to find out what marketing strategy could generate more growth.
A well-balanced and well thought-out marketing mix is key to the success of your products and services.
It’s basically all about the four traditional marketing Ps: Product, Place, Price and Promotion. But within these Ps, there are four new ones that also need to be considered: Permission, Participation, Performance and Proliferation.
Optimising your product
The starting point for most aspects is Product. A good product resonates with the user. It solves their problem. The more relevant the product, the better the Performance and the easier it is to obtain Permission from consumers – something that is particularly relevant at a time when transparency and the speed with which we obtain information are constantly on the rise.
The research methods we describe below provide insights into optimising products and boosting their success in the market:
The right place for your product
The choice of sales channels, particularly when you use multiple channels (the omnichannel approach), determines the success or failure of your product. Visibility is crucial, whether we’re talking about the placement of your product on the supermarket shelves or how easy your service is to find online. Concept research and path-to-purchase research both focus on this.
Getting the pricing right
Pricing is a science in itself. The right pricing is the essence of sales, turnover and profit. How can you increase your market share or your profit margin? We find the answer to questions like these with price research.
Promoting your product to your customer
There are many different promotion strategies to choose from. The priority in all of them is to make your potential customer aware of your product. To help you achieve this we often apply the theory of How Brands Grow as a guideline – although not as the sole truth. The form of promotion and channels you use depend on many factors. Within Promotion, we also focus on Proliferation.