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Marketing Keys so that your Product/Service is Competitive in the Market

“The problem for most businesses, when it comes to finding customers, is that they do not clearly differentiate themselves from their competitors, that is, they do not offer any differential added value, we live in a world with a very broad offer for the same product.”

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“The problem for most businesses, when it comes to finding customers, is that they do not clearly differentiate themselves from their competitors, that is, they do not offer any differential added value, we live in a world with a very broad offer for the same product.”

In your opinion, to find your place in the market, “you have to differentiate yourself and position yourself in some way to be found among the thick forest of brands, if you do not differentiate, you can only compete on price … and there will always be someone cheaper than you”.

Mendoza argues that, in order to differentiate yourself, “you have to establish your own marketing strategy, your own marketing mix.” That is, your own way of combining the famous 4 Ps with which Professor E. Jerome McCarthy defined, in 1960, the concept of marketing: product (product), price (price), placement (distribution, point of sale) and promotion (promotion) “.

1. PRODUCT

“The first and elementary to succeed is to have an attractive product or service, with competitive advantages, now it is not enough to have a product that covers a need, there is so much that if you do not have your competitive advantages well defined, nobody will buy you”.

And those competitive advantages can be:

“Something you do or have and that few (or nobody) do or have, something that, in addition to differentiating yourself from others, is difficult to copy (or take a long time to copy), or something that, to make yourself different, the market value enough to pay to have it.”

2. PRICE

This element is, perhaps, one of the most complex, because what price do we put on our product or service? “If we add all the costs of producing it (raw materials, machinery, personnel expenses, rents, taxes, etc.) and we add the profit margin that we want to obtain, we will get a specific figure, however, what if no The customer wants to buy it because it seems too expensive, because we are not competitive, the competition is producing the same and sometimes even with higher quality and for less price, so the difficulty is not so much having a good product ( ), how to have a good product at a competitive price and that your company remains profitable, this is really hard to achieve. “

3. PLACEMENT (DISTRIBUTION, POINT OF SALE)

“It is the place where your target audience is, the one that will foreseeably value your competitive advantages”. But, eye! “Sometimes we think that our potential customer is one, and then it turns out that it is another and that it is in a completely different place than we thought, do not be frustrated if what you think your natural audience turns out to be is not. It is the first time, so you have to inform yourself well and be constant, you just have to be patient to find it.”

4. PROMOTION

“It’s what you do to make yourself known and to attract your customers, which includes everything the company does to publicize its products or services and increase its sales.” 12 ways to attract customers: face-to-face sales, online sales ; positioning on the Internet, advertising (traditional, digital, street marketing and ambient marketing), media cabinets, direct marketing, events, sponsorship, patronage and CSR, partnerships, networking, social networks, and cutting-edge techniques (guerrilla marketing, storytelling , neuromarketing, sensory marketing, customer experience, geomarketing and artificial intelligence).”

Due to the evolution of new technologies and the changes they have generated in the market, “traditional 4Ps have become the 8 P. The marketing mix is ​​now more complex to adapt precisely to the growing complexity of the market: people ( people), physical evidence (presentation, physical appearance), process (processes) and productivity and quality (productivity and quality).”

5. PEOPLE

“People are the ones that configure companies and organizations, even if you have a unique or original service or product, if you do not have employees motivated in accordance with the mission, vision and values ​​of the company, you will hardly be successful. The right people create value for the companies, the brand, the product or the service.”

6. PHYSICAL EVIDENCE (PRESENTATION, PHYSICAL ASPECT)

“It’s about the physical aspect of the product, its shape, its color, its size, etc. In the case of services, which are intangible, the effort is aimed at making them, as far as possible, visible and with added value , either through the physical space where they are provided or through articles that reinforce the service in a tangible way “.

7. PROCESS

“It is no longer enough to have a product that meets the demands of the client, but also to take care of all the aspects related to the production process.” Value must be generated throughout the production chain, since we acquire the raw material until we have the finished product, and even later, during the commercialization “.

8. PRODUCTIVITY AND QUALITY

“It is the ability of the company to offer products or provide services at the lowest possible cost, maintaining the quality required by the customer and responding to their expectations.” Productivity and quality are considered together, since they are communicating vessels: Good productivity is essential to keep costs under control, but this should not translate into a reduction in the level of quality, technology has increased productivity and, at the same time, increased quality, without this implying a higher price.”

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