PROMOTIONAL OPPORTUNITIES
Ready to Promote Your New Product? You Have Several Options.
By James F. Riordan
PART ONE
For the purposes of evaluation, "promotional opportunities" means all forms of communication designed to inform a potential customer about the benefits and desirability of a particular product. The goal is to convince the buyer or end-users that the product will satisfy their needs or desires, or be better than the one they're using now.
Winning products are those that can be promoted using all variations of the "promotional mix," thus using all available promotional opportunities.
In order to understand all of the communication variations available, you must know the key factors in the promotional process. The key factors are:
* The Target Audience* The Message
* The Message Carrier
* The Message Source
Let's look at each of these in more detail
1. The Target Audience--This consists of both buyers and end-users. Sometimes the buyer and the end-user are one and the same. The "target audience" is best defined as the segment of the market to which the product is directed.
2. The Message--Want to communicate something about your product? That's your message. Simply defined, the "message" is any information you want to communicate (to the target audience) about the product. For example:
* It's New!* It's Improved!
* It's Superior!
* It's Economical!
* You Need it Because....
* You Want it Because....
* You Need it Now!
* It's on Sale!
* It's Safer!
* It's Better Than the Competition Because....
* Technical Information About Your New Purchase....
The message of every promotion and communication must be tied to your marketing strategy and should enforce your "product positioning statement." A typical product positioning statement is "the nicest thing you can say about your product." All other features are of lesser importance. It's the one statement that says it all.
The positioning statement consists of:
* The Target Audience (a description of who will buy the product)* The Product's Name
* The Frame of Reference (how the buyer categorizes the product)
* The Point of Difference (what makes the product better, faster, more fun, etc.)
You can see these factors in the following statement:
TO PILOTS AND AIRCRAFT OWNERS (target audience), MIRROR GLAZE (product name) IS THE WINDSHIELD CLEANER (frame of reference) THAT REMOVES SMALL SCRATCHES BEST (point of difference).
3. The Message Carrier--The carrier is the "medium" used to carry the message to the target audience. It can be:
* Personal appearances* Trade publications
* Trade Shows
* Contests
* Word of mouth
* Mailings, letters, etc.
* Brochures
* Packaging
* In-store displays
* Outdoor displays
* Handouts and samples
* Newspapers
* Magazines
* Television
* Radio
* Telemarketing
4. The Message Source--This is the person or entity delivering the message. The message source can be:
* An individual (manufacturer or marketer)* A satisfied customer
* A company spokesperson
* A reporter
* A celebrity "endorser"
* A retailer or seller of the product
* A public relations (PR) firm
All of the factors listed in this article can be combined into your "promotional mix." Your particular combination will depend on:
1. What kind of product you have2. The product's stage in its life cycle
3. The target audience's preferences, characteristics, values and demographics
4. The type and intensity of competition
5. Feedback from the marketplace, focus groups, distributors, etc.
Your mix must be constantly monitored to be assured it remains on target and effective. For example, if you find that your message brings in more buyers when you use a celebrity spokesperson in magazines than when you place ads in newspapers, you will change the "mix" to include more magazines, fewer newspapers, and more celebrity spokespersons.
The ideal product will be able to use all of the above promotional opportunities in several different "mixes."
NEXT ISSUE: More on Promotion
The above article was taken from James F. Riordan's classic book, HOW TO EVALUATE THE POTENTIAL FOR SUCCESS OF A NEW PRODUCT OR TECHNOLOGY. Riordan's highly-acclaimed, 36-point system is a valuable tool for inventors, product evaluators or anyone interested in the invention process. Each section is followed by a comprehensive questionnaire that can be used to evaluate your product.
The highly-recommended book can be ordered through the Dream Merchant, 2309 Torrance Blvd., Suite 104, Torrance, CA 90501. The phone number is (310) 328-1925.
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