Using Price, Product Features and Place of sale for business promotion |
Almost everyone of us have heard a friend boast about the quality of their shoes, the fuel efficiency of their cars, beauty and quality of their clothing, how delicious or healthy a certain dish at a certain restaurant is and so forth. This goes to demonstrate that consumers are seeking benefits from functional attributes of products and services. These are things that no amount of money can by, the only way to capitalize on such functional attributes is to listen and produce what consumers want. An expensive marketing campaign would never make up for a bad product. This however, is not to say that a good product does not need explicit promotion, this shows that even good products could be effectively complemented by effective and well planned explicit promotion. Our daily lives are consumed by messages about brands that are aimed at serving lifestyle goals of a large number of consumers. These messages focus on the superiority of their product in comparison their competitors and enhanced lifestyles of those who use their product. These is evident in marketing messages delivered by brands such as Nike (how they portray the quality of their shoes and using affluent athletes to endorse the product) or some food products that disseminate messages about reduced fat content in their food product, by using skinny actors to emphasize the healthiness of their food products. This extensive understanding of benefits that consumers are seeking in the functional attributes of the product also allows such sellers to create a perception of a superior product. Thus, even at a higher price, consumers will still have a strong desire to purchase the product because of the perceived superiority or benefit that the product delivers. This is the same reason that person would want to take their dates to an affluent restaurant or on a picnic in a quiet place, why? Because it shows or at least create a perception of a certain level of quality and class. |
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