Topic: Student Questions

Is Marketing A Waste Of Money?

Posted by Anonymous on 125 Points
discuss whether a good product will sell by itself.
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  • Posted by Carl Crawford on Accepted
    how can people but your product if they don’t now about it?

    basic marketing is the 4ps, price, place, product, promotion

    let say you were able to give away some free samples to people to try, this would be Viral marketing or gorilla marketing, they would tell there friends who tell there friends, who would ell there friends etc.

    now that you have there attention you need to Brand your product so they can recognise it, to buy it. If you just put it in a clear plastic bag how will they know it is the product there friend told them about?

    if they are able to recognise the product then you need to get it to the customer when and wear they need it,

    example: You hear about this product and you want to buy it, but where do you go to get it? the shop, the supermarket? the chemist? if you cant find it you will just get something that fits your needs even thou it is not the best one.

    you need to get the price right. if it is to cheap people will think it is shady/bad but if it is too expensive then they wont be able to buy it.

    do you get what i am saying?

    You need to get the information about your product out there, people are not going to buy a product which they have never heard of, which they dont trust, which no one they know has used. For all they know it could be just a useless bag of air.

    Carl Crawford
  • Posted on Member
    IMO this question is about marketing efficiency or the measure of: input/output

    marketing cost / return from marketing

    Clearly a ratio of greater than one cannot be sustained for very long (unless you are the government). A ratio of zero (a product selling its self) is only possible if the cost is zero). So how can the cost me zero? Can the cost be negative?
  • Posted by SteveByrneMarketing on Accepted
    A good product does not sell itself, but it makes the marketer’s job a whole lot easier. For example, auto marketers and dealers usually work pretty hard to sell cars. But occasionally a manufacturer offers a new car to rave editorial reviews. The car magazines will all give it front page and feature story status, resulting in auto buyers who will write checks to reserve the car months before it even hits the show rooms. Did the car sell itself? Not really, marketing contributed to the product development process that produced the car in the first place. PR and editorial support were needed to get the best bang out of the press. Broadcast and print ads SHOWED the car to those who do not regularly read the car pubs. In short, the car didn’t really sell itself, it was just very attractive to the buyer.

    Hope this helps,

    - Steve

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