By Jerry Rackley
Here at Demand Metric, we regularly talk to members that come to us with a similar sounding request: help us put together a marketing strategy. This is work we relish; so don’t think for a minute that we’re complaining about these requests. In fact, keep them coming!
From a high-level, the goal of a marketing strategy is to identify a target market and develop a marketing mix that will appeal to those potential customers. Decisions regarding the ideal marketing mix can be organized in terms of Price, Promotion, Product, and Price. However, the goal is not to just come up with a particular strategy, but rather to focus on providing value to your key market segments.
Product GAP Analysis Tool – Use this tool to strategically plan for improvements to Market Research, Product Strategy, Capabilities, Technology, and Product Marketing.
Product Roadmap - Use this Product Roadmap to analyze market segment needs, trends, products, and technology required to produce market-driven products.
Product Profitability Analysis Tool - Use our Product Profitability Analysis tool to document and analyze: Product Name, Price, Unit Cost, Unit Sales, Revenues, Costs of Goods Sold, Gross Contribution, Marketing & Sales Costs, Product Profit/Loss, and Gross Margin. Then, view your Product Charts.
Product Marketing Manager Job Description – Reporting to the Director of Product Management, the Product Marketing Manager is responsible for providing product line support for marketing program strategy, sales support, and channel support.
Product Management Strategy Scorecard – Use this Product Management Scorecard to document product-based objectives, initiatives, measures, and targets, for the next 12-18 months.
By Jerry Rackley
For all that Ralph Waldo Emerson was, he was no marketer. He famously said, “Build a better mousetrap and the world will beat a path to your door.” I’d love to debate Ralph about this: what if you can’t sustain your mousetrap innovation rate? What if competitors lower their prices? How will you communicate your mousetrap differentiation to the world? Why will they care? My debate with Ralph will never take place, but this thinking persists.
