Marketing Your Product Revised June 2010. How to Sell Your Product The 4 P’s of Selling are key elements to selling your product Product: What are.

MarketinMarketing Your g Your ProductProduct

Revised June 2010

How to Sell Your ProductHow to Sell Your Product The 4 P’s of Selling are key elements to The 4 P’s of Selling are key elements to

selling your productselling your product Product: What are you selling?Product: What are you selling? Price: How much will you sell for?Price: How much will you sell for? Promotion: How will you sell the product?Promotion: How will you sell the product? Place: Where will you sell the product?Place: Where will you sell the product?

Show Me the Money!Show Me the Money! Selling price depends on…Selling price depends on…

How much your competitors chargeHow much your competitors charge How much your customers are willing to How much your customers are willing to

paypay How much it costs to produce the productHow much it costs to produce the product Whether your company has additional Whether your company has additional

value or image that can raise the pricevalue or image that can raise the price

What is Promotion?What is Promotion? Any form of Any form of

communication a communication a business or business or organization uses organization uses to inform, persuade to inform, persuade or remind people or remind people about its products about its products and improve its and improve its public imagepublic image

Types of PromotionTypes of Promotion AdvertisingAdvertising

Television, radio, news media or Television, radio, news media or onlineonline

Meant to pre-sell items to Meant to pre-sell items to customerscustomers

Not targeted to one particular Not targeted to one particular audienceaudience

Visual MerchandisingVisual Merchandising Displays and store layoutDisplays and store layout Point-of-purchase materialsPoint-of-purchase materials

Personal SellingPersonal Selling Speaking with a buyer about Speaking with a buyer about

your productyour product

Popular restaurant chain Arby’s decorated Atlanta billboards to

promote its new motto, “I’m thinking Arby’s.”

Catching Customers’ EyesCatching Customers’ Eyes Front entrance display — your Front entrance display — your

product is the first thing product is the first thing customers will seecustomers will see

Interior displays — at the end Interior displays — at the end of shelves, signs, and pins or of shelves, signs, and pins or promotional materials worn by promotional materials worn by salespeoplesalespeople

Settings — situational-type Settings — situational-type displays of people using the displays of people using the productproduct

Coupon dispensersCoupon dispensers Salespeople handing out free Salespeople handing out free

itemsitems

Everyone Likes Freebies!Everyone Likes Freebies! Point of Purchase MaterialsPoint of Purchase Materials

Used to promote the productUsed to promote the product Include:Include:

Coupons, contests, rebatesCoupons, contests, rebates Hats, bandannas, pins, or other Hats, bandannas, pins, or other

wearable materialswearable materials Office supplies, such as stickers, Office supplies, such as stickers,

pens, pencils, and notepadspens, pencils, and notepads Free samples or demonstrationsFree samples or demonstrations

Who to Sell to?Who to Sell to? Sell to your target marketSell to your target market

Group of customers at whom your business is Group of customers at whom your business is focusing its marketing effortsfocusing its marketing efforts

Sell to your most desirable customersSell to your most desirable customers Remember to sell the benefits, not the factsRemember to sell the benefits, not the facts Know your target market:Know your target market:

DemographicDemographic Psychological characteristicsPsychological characteristics What’s important to them?What’s important to them?

Differentiate Your Differentiate Your ProductProduct

Make your product something that will stand out in Make your product something that will stand out in customers’ mindscustomers’ minds

Ways to Differentiate:Ways to Differentiate: Value-added productsValue-added products Bigger and better than the competitionBigger and better than the competition Unique touchesUnique touches Physical appearance of packaging and labelPhysical appearance of packaging and label Product availabilityProduct availability Services your company providesServices your company provides Believable imagesBelievable images Make it fun, kid-friendly, and close-to-homeMake it fun, kid-friendly, and close-to-home

Shop ‘Til You DropShop ‘Til You Drop Places to Sell Your ProductPlaces to Sell Your Product

Where does your target Where does your target market shop?market shop?

Stores and on your Stores and on your company’s websitecompany’s website

ExperiencesExperiences ““Pick your own” food Pick your own” food

productsproducts Value-addedValue-added Samples and Samples and

demonstrationsdemonstrations Get your customers Get your customers

involved in the product!involved in the product!