Product Marketing: A Complete Step-by-Step Guide for Beginners

What is Product Marketing? How is it done?

Introduction

In the 1950s Volkswagen developed a minibus we all know. Even after 70 years, this minibus is known by people. It's almost like an icon.

Volkswagen introduced an electric version of the same van last year. This vehicle, which looks quite fun, continues to preserve the "hippie" spirit of the minibus from the past.

A very minimal commercial was also released for the minibus in question. The song "The Sound of Silence" was used in the commercial, which features this vehicle, which works extremely silently due to its electric nature.

In other words, Volkswagen once again emphasized that it is assertive in the production of electric vehicles with this advertisement. Satisfying the public's interest in environmentally friendly electric cars, the latest version of the minibus was also effectively introduced.

So who produces these types of marketing campaigns? Who contributes to the creation of such content?

Product marketers, of course.

Then you will probably ask what is the difference between product marketing and classical marketing as we know it. You can find the answer to this question in our article

Let's start to explain.

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What's the Difference Between Product Marketing and Classic Marketing?

Product marketing is the process of bringing a product to market and selling it to a customer. It consists of elements such as analyzing the target customer group of a product, positioning the product strategically, and increasing interest and demand for the product.

So what makes product marketing special? How is it different from marketing as we know it?

Product marketing is a strategic process. Classical marketing, on the other hand, is a holistic approach. We can say that product marketing is essentially a sub-type of the marketing umbrella.

Product marketing focuses on demand development and adaptation of a product for existing customers. Product marketers are concerned with the steps it takes people to buy a product

Product marketing is about deeply analyzing a product's target customer group and producing messages that will reach that audience. The processes of launching and promoting the product fall within the scope of product marketing. In other words, product marketing takes place at the very center of product, sales, and marketing activities.

Classical marketing, on the other hand, includes more comprehensive processes such as customer development and search engine optimization (SEO). The holistic promotion of a brand and product sales are included in traditional marketing. 

Therefore, when it comes to classical marketing, we can think of wider marketing activity.

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Why is Product Marketing Important?

Product marketing is critical because it is the most critical component of a company's marketing strategy. A product cannot be fully promoted to its target customer base without product marketing.

When we look at the components of product marketing, we see:

• Understanding customers better

• Profiling the target customer base

• Analyzing competitors and their products

• To ensure that the marketing, product, and sales teams work in coordination

• Positioning the product in the right place on the market

• Increase earnings and sales

There are also some questions a product marketer should ask himself about a product in question. As a product marketer, you should ask yourself these questions because your answers to these questions are important for the product to be successful with customers.

• Is this product suitable for current market conditions?

• Is this product available for our customers now?

• In what ways are we superior to similar products produced by competitors?

• What can be done to differentiate the product from other similar products?

• Are there products that we have sold in the past but cannot sell today? If so, what is the reason?

As you can see, product marketing requires looking at products from a strategic perspective and ensuring that the product is successful in the current market conditions.

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What are the Task Areas of Product Marketing?

In this context, there are certain responsibilities that a person working as a product marketer has. These responsibilities may vary from sector to sector, from product to product. 

For example, if you work at a startup, you may have broader responsibilities as a product marketer due to budget and limited resources. If you work for a large company, you will have more specific responsibilities than the general marketing team.

Let's take a closer look at the duties and responsibilities of a product marketing department.

1. Identify a Target Customer Audience.

As a product marketer, you must identify your target customer audience and develop marketing campaigns for these people. If you know who to sell products to, you can develop a marketing strategy that can persuade these people.

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2. Develop a Product Marketing Strategy.

The product marketing strategy allows you to create content that will encourage the target customer group to buy.

3. Coordinate with the Sales Department.

As a product marketer, you need to have a close relationship with the sales department. You also must ensure that the sales department knows the product in question very well. 

Thus, both the product marketing and sales team know what needs to be done at which point. Marketing and sales activities of the brand are carried out regularly and to a certain standard.

4. Position the Product in the Right Place in the Market.

One of the most important issues of product marketing is to position the product toward the market. You can think of it as storytelling. Positioning the product is telling a story about the product.

• Why was the product produced?

• Who does the product appeal to?

• What problems does it eliminate?

• What makes the product special?

5. Take care that the product meets the needs.

The product must meet the needs of the target customers. You also must determine the features that should be included in the product by analyzing the customer and buyer profile.

If a product does not meet people's expectations, there is no reason for them to buy from you.

6. Update Product Over Time.

The products you offer to the market must adapt to the times. In other words, people's needs, expectations, and problems change over time. 

You, the product marketer, should follow these changes. In other words, you should be ready to make big and small changes in your product marketing strategy from time to time. 

If necessary, you should submit the research reports you have prepared to the company's production department so that updates and improvements can be made to the product itself.

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How to Develop a Product Marketing Strategy?

As you can see, the product marketing strategy is geared towards positioning, pricing, and promoting the product. With the product marketing strategy, you bring the product from the idea stage to the launch stage; 

Then you make the necessary moves to ensure that the product reaches the right place in the market.

Let's take a look at the five steps you need to know to develop a product marketing strategy.

 

1. Define Your Target Audience.

As we mentioned above, one of your primary duties as a product marketer is to identify a specific buyer and target customer base for the product you are trying to sell. If there are 8 different products you produce, the target customer group of these 8 products may differ.

By understanding the needs and expectations of your customers, you can ensure that your product marketing strategy convinces them. However, the content created in this way about the product has an impact on people.

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2. Position the Product Where It Distinguishes You.

After conducting customer research and target customer audience analysis, you should focus on explaining the features that make the product different.

What sets you apart from your competitors is the positioning and the style you use. The place where you position the product in the market and the way you describe the product answers the questions of the customers about the product and differentiates you from similar products on the market.

So, as a product marketer, you need to be able to give customers answers to these questions in advance:

• What makes product X unique

• Why is the product better than competitors' similar products?

• Why are the features of the product ideal for the target customer base?

• What can this product do that competitors' products cannot

• Why should people shop from us and not from another company?

Your answers to these questions form the backbone for positioning and copywriting in your marketing campaign. Make your answers short and clear sentences. 

Use exciting and powerful expressions in these sentences. Make sure that the style you use reflects your brand identity. And describe the product holistically without relying on a single feature.

3. Set a Goal for the Product.

Setting a target for the product is also an important issue. Depending on the company you work for, the product you're trying to sell, and the type of overall marketing campaign, these goals may also be different. But the key goals product marketers should have are:

• Increase earning

• Engage more with customers

• Increase market share

• Gaining customers from competitors

• Increasing brand awareness

 

4. Contribute to the Pricing Process.

Another task of product marketers is to contribute to the pricing process of the product. Depending on the company you work for, you may work in partnership with other departments on the pricing strategy, or this process may be entirely your own.

In any case, you need to know both pricing models.

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Competitive Pricing vs. Value-Based Pricing

Competitive pricing is based on the price of similar products in the market. In other words, for a product produced by competing companies and performing the same function, you base the price on those companies.

If your product is different from their products and has better features, you can set a higher price for these products. You can review your competitors' prices, financial reports, and industry trends to see if your pricing is correct.

Value-based pricing allows you to maximize your profits, but value-based pricing takes a little more time than competitive pricing. Value-based pricing is ideal, especially for companies that do not have many competitors and those trying to sell a very original-innovative product.

 

5. Launch the Product.

It's time for a product marketer's most important and exciting task: getting the product to market!

There are two types of launches in product marketing:

Internal launch (internal developments after the product enters the market) and external launch (developments outside the company after the product enters the market)

 

A. Internal Launch

As a product marketer, one of your duties is to ensure that the entire company has complete information about the product. In this way, customers receive regular and specific messages about the product.

Product and sales teams before product launch;

• Sales and marketing departments should know all the features of the product.

• The sales team should be trained on the features and use of the product

• It should be known how the product is positioned.

• It should be well known who the target customer group consists of.

• The price of the product and how it will be promoted to end users should be well known to all relevant departments.

• The in-house information process should be disseminated through methods such as sales kits, presentations, and knowledge bases

 

B. External Launch

When it comes to launching, most of us already think of external launch.

• promotional event

• store activity

• Social media

• Website promotion page

• Things like product review videos… go into external launch.

Depending on your industry, product, and company, you can make the most suitable launch event for you. For example, every year in September, the launch is exciting because Apple launches a new product in September.

Whatever method you follow, focus on product positioning and the message you will deliver in your launch events. In other words, share the features of the product, what makes the product special, pricing, release date, and training videos at the launch.

When you follow the steps we have listed so far, you will be deemed to have done a good job in terms of product marketing. 

Remember, this process must evolve as your products change and evolve. In other words, product marketing is not static, but a continuous and lively process.

 

Successful Product Marketing Examples

Let's take a look at some product marketing examples that we believe are successful:

 

1. Apple.

Apple makes amazing products in terms of design and function, no one can deny that. However, in its marketing campaigns, Apple focuses not on its products, but on the benefits of the product to people.

The phrases in the box are as follows: “Be ready for your best work. ” and “Best for the brightest minds. ”

In other words, instead of counting the features of the products, Apple says why they should buy this product. It is claimed that the promise of the Macbook Pro will give the buyer the most productive period of his life.

 

2. Coca-Cola.

95% of people in the world know about Coca-Cola. When it comes to carbonated drinks, “cola” has become a generic name. Coca-Cola's awareness is so high that even Pepsi, its biggest rival, takes advantage of this situation in its Superbowl ad.

Coca-Cola is one of the most well-known brands in the world with its product positioning, frequent advertisements, and solid brand identity.

 

3. Billie.

Billie is a company that produces razors for women. In a highly competitive market, Billie manages to highlight its products very well. So how?

Billie shows body hair in her commercials doing something you won't see in any razor commercial. This not only allows the brand to be talked about frequently on social media but also reflects the female body in the most appropriate way to its nature. This is enough to set Billie apart from other razor companies.

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4. Mailchimp.

There are dozens of companies that offer e-mail marketing services. However, none of them were as successful as Mailchimp. Because Mailchimp has positioned itself as a company that offers more than an email marketing tool.

Like Apple, Mailchimp does not focus on the features it offers, but on the change, it offers in the lives of end users in its marketing campaigns.