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You have are marketing a great product. It is inexpensive, and based on your conducted feasibility study, and a prime need of your target consumers. But for some odd reason, only a few good souls are out there looking for your great idea. How is this so? Have you considered that maybe it’s your packaging that’s the problem? Sure, your product has been in the market, say a decade or more. But is your old packaging enough to catch the attention of your new customers?
What are the things that comprise your packaging? The name, the symbol, ingredients, nutritional facts, you name it. There are picky customers out there that do not leave the tiniest bit of detail for granted. Even if you do know what’s in your product, do your customers know exactly what makes it so good? Update the name. Maybe it’s not that catchy enough. See if the new generation of shoppers can be attracted with the name of your merchandise. It should be easy to remember, and most importantly, easy to spell. Next would be the nutritional factors. This should be carefully considered in your marketing checklist. There are people out there with health problems, or health buffs who what to see what exactly they take in.
If it’s an electronic device or appliance, does it fit the standards for those with pacemakers, hearing aids, visual disturbances? If it is food, does it have the tag low sodium, no gluten or gluten-free, high-fiber, low fat, etc? Is the packaging too much in wrapping? Or maybe it speaks of cost-cutting like poor quality paper, bad printing. Which, harsh it may be, translates to poor quality merchandise? Let’s face it. Most consumers today are out for eye candy when it comes to taking interest on a product.
Consider redoing your marketing plan template to conform to re-doing your packaging.
Every business has some factors that affect its outcome. Certain factors affect the stability of income in a business. It’s important to keep these factors in mind in your marketing checklist so you will have a contingency plan just in case these factors affect your marketing plan.
Consider the demographics of your target market. Their status can help you predict their needs, which will help you adjust your marketing strategy. Newlyweds are more likely to find a new home of their own that they will eagerly spend hours (and money) decorating and renovating to their liking. An increase in the teenage population can increase the need for fashionable and trendy items.
The season can also predict social and cultural trends. Summer will have the demand for swim wear, and the desire to spend some time for rest and relaxation. The start of school will require parents to buy school supplies and materials that will help their kids get through school.
The advancement of technology gives rise to equipments and gadgets that help people live their lives easily and comfortably. People are more geared to having medical check-ups in hospitals that have the latest in diagnostic equipments. The latest MP3 player may not be suitable enough even if it has the highest of capacities when there’s an MP4 player around. A businessman will opt to buy a PDA that does not only organize his agenda, but also help him reach people across the globe.
Not all trends may affect the market you plan to play in. Plan your market carefully for you to know what it is you need to do or deal with so when changes in trends happen, you have something to counteract the change. There are free marketing plan templates available online to help you get a head start on facing these trends that can affect your business stability.
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