How to define ROCKSTAR Product Marketing Strategy
Successful products require successful product marketing strategies. A strategy which ensures the product meets customers’ needs, position it in the market appropriately and have a plan to get the word out. Most product marketing strategies begin with an idea or concept, then move into various stages of development that can include market testing, setting pricing, training a sales force, and executing the promotion. The product marketing strategy encompasses every department in a corporation from engineering and design to distribution and sales. In fact, according to Media Relations Agency, 80% of new products fail. But why? Well, failure could be due to several factors: Lack of understanding of the market Lack of understanding of the buyer Lack of communication Ineffective product marketing strategy Here are the key elements of a strong product marketing strategy: Target Market According to Cintell, high-performing companies are 2.3 times more likely to research