Understand the key ingredients for a good marketing approach
The right marketing mix is different for each brand. The most important variables are price, promotion, product and place. All four are intertwined and complement each other. As a manufacturer you shouldn’t develop a product without considering the price, whether it is suitable for the market and customer of today and how it rates against the competition.
"The right marketing mix determines the value of your brand"
Determining the right sales price is a key element to ensuring that your product will be profitable. The pricing strategy needs to be customised to the individual product and brand. Whilst price does not determine a product’s success alone, it is an important area to look at, to ensure competitiveness whilst providing enough margin for you to be profitable.
A suitable price strategy is essential. Whether economy pricing, price skimming, psychological pricing or product line pricing - just to name a few - the right strategy needs to be determined individually, depending on your product and brand. The different German market segments are as individual as your business. Finding the right price point will be a crucial part of your product’s success.
The promotion of your product is how you communicate with your target audience about your product but also about your brand, your ethics, who you are as a business, maker or creator. It is important to find out the best way to reach your target audience. Where do your customers hang out? What do they read? Which media do they consume? What else do they buy? These are all questions that need to be answered, before embarking on any marketing activity.
With the growth of digital and social media marketing, the way manufacturers, businesses and brands communicate with their customers has changed completely. Finding the right balance, takes product expertise - understanding you, your brand and your product - and local market knowledge. Why change your marketing approach from product focused marketing to people focused marketing? Because businesses must nurture the relationships with their customers and focus on their wants and needs.
A customer focused marketing model additionally concentrates on the cost to satisfy, the convenience to buy and customer communication. Product and marketing decisions pay attention to customer needs first, then provide the product at a cost and a convenience that satisfies the customer. Research will be the first step in answering all these questions in order to find a suitable sales and marketing strategy for your brand and product.
As a manufacturer you should also consider the place where, and also how, it is being sold. It could be the classic scenario of independent hight street retail stores selling your product to the end consumer, along with online shops for example. Or you make use of other sales channels such as salespeople, intermediaries such as distributors, selling wholesale to individual re-sellers or you are selling directly to the end consumer or trade customers.
I can help you figure out the intricacies of your own individual marketing approach, which is appropriate for your brand in the German market and develop a suitable sales strategy, so your product is available to buy quickly and efficiently.
After a thorough investigation of the appropriate market segment in Germany, I will provide a market analysis, which will be the basis of defining a suitable marketing and sales strategy for your product and brand.
As a multi-lingual marketing specialist, I help brands reach their desired market segment in Germany. I offer specialist support for established brands and startup businesses, wanting to export into Germany. I generate innovative marketing solutions, help with mastering customer communication in the German language and guide you in the development of distribution and retail networks.
Call, e-mail or comment below for a free chat about what I can do, to help you successfully sell your product in Germany.