Which marketing strategy is right for your business? If we review the most successful brands and products on the market, we will find that their marketing is associated with the customer 100% of the time. Of course, there are multiple examples of products that became a success and that were not precisely developed thinking about customer needs, but these examples are mostly consistent with a transient trend where the entire company tends to disappear or simply not have another equally famous product for the rest of its existence. But as a general rule, the success of products and services is closely linked to the customer experience rather than to the creation of the product.
The top marketing firms in Orange County know that we are living in an era where marketing must be driven by the consumer and at Twelve12, we want to share with you some information on the topic.
Currently, it is very difficult for a company to develop a totally innovative product, and it will almost always be an improvement of another product. Therefore, it is not necessary for the reader to feel frustrated if you haven’t been able to find the “next big thing” to offer to your customers. In this case, the way forward is usually to increase or improve the value proposition – in other words, to offer a product that makes the consumer choose their brand over the other options available in the market.
When there is little knowledge about marketing techniques, the average entrepreneur usually resorts to lowering prices, which could momentarily increase sales. However, it is possible that the competition will do the same, causing a price war that will eventually have a negative effect on the company’s profits. On the other hand, the market segment of some companies is positively influenced by a reduction in the price, so in this case, a lower price would provoke a favorable response from customers. So how do you know what strategy to follow?
The answer lies in the knowledge of the segment and what drives purchasing behavior, needs, and desires. Behavior varies by multiple factors; the best known and studied are age, sex, socioeconomic level, educational level, etc. But it is also necessary to take into account another series of factors such as buying behavior, usage and behavior in social networks and the digital environment, consumption habits, and an endless number of other elements which are chosen by assigning importance and leaving out those that have little influence or nothing at all in the purchase of your product or service.
If you want to know more about how the top marketing firms in Orange County can help you achieve your marketing goals in no time, give us a call today – at Twelve12, the customer is our priority.