How to Market a Product Colorado

Steps

1. Conduct research to see if the product is a good one and it has a viable target market.
2. Make any required changes to improve the product.
3. Assume that the product is "terrible" and the management has inventoritis.
4. Assess financial capability to support product-marketing initiatives.
5. Create an inventory of all the tangible and intangible assets available to the company.
6. Understand the value proposition, target market, goals and environment.
7. Clarify timeline, plan, target market needs, priorities and objectives.
8. Examine all processes within the company (operations, financial and internal/external marketing).
9. Make all required improvements to the internal processes.
10. Improve the marketing materials.
11. Design an external marketing strategy and process. (considerations below)
    • Positioning - competitive strategy, differentiation, brand and pricing strategy
    • Selecting - distribution channels, marketing vehicles and service providers
12. Focus your efforts by finding the Leverage Point (Strategic Leveraging) by analyzing networks, trends, technology and alliances. Strategic Leveraging involves the following 5 steps:
    • determining the opportunities for improvement from the status quo.
    • evaluating strategic improvement opportunities.
    • creating a strategy centered around a Leverage Point (LP).
    • establishing a position.
    • executing the strategy using sufficient leverage and force to drive the process to completion.
13. Get the right people into the right places at the right time.
14. Leverage all the appropriate tangible and intangible assets and execute on the strategy and process.
15. Review the process and make any necessary changes.

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