There are many reasons why product marketing is important. Knowing this will help you see its value. What are these reasons? Let us know more below.
Why Product Marketing Is Important
Product marketing is important, firstly, because it provides direction for the product development team. This is because product marketing knows the customer and the market much better than the development team. The product marketing team knows the needs of the customers and what they want in a product.
So, it is this knowledge that helps them to define a product’s features and benefits. The product marketing team will also be able to identify gaps in the market and customer needs. This allows them to come up with ideas on how these gaps can be filled.
Then, the main aim of product marketing is to create a customer value proposition. This is done by finding out what your customer wants in a product, then being able to tell them what you have that will meet these needs. It is also important for customer retention since satisfied customers are less likely to leave your brand for another one. As such, it helps in establishing brand loyalty and trust with your customers.
Further, it also helps bridge the gap between the company’s vision and its execution capabilities. They do this by evaluating the current position of your company, as well as its capabilities, strengths, weaknesses, opportunities, and threats (SWOT). They then come up with ideas on how these gaps can be filled based on the knowledge of what your customers want and what you have to implement.
What Product Marketing Roles Are Important for Success?
Product marketing has many different roles that contribute to its success. These roles are described below:
1) Product Marketing Manager. The manager oversees all aspects of product management, from strategy through execution. He helps develop new products, services, or features. This is based on information gathered from different sources such as market research, trends, or customer feedback. Also, he is responsible for executing all tasks related to communicating and promoting new products or services.
This, then, includes pricing strategy, packaging design, and advertising campaigns among others. He also works closely with distribution channels such as sales managers or resellers to ensure that products are available to customers when they need them most.
2) Product Manager. He is in charge of overseeing all aspects related to a specific product line, including pricing strategy, packaging design, advertising campaign, and more. He is also responsible for developing new products or services based on information gathered from market research and customer feedback.
3) Market Researcher. He conducts market research to obtain information about customers’ needs and wants, their buying behavior, competitors, market opportunities, pending legislation, and more. This person uses research tools such as surveys, focus groups, and data from the internet to gather information about a certain market.
As you can see, a company needs to have effective product marketing. This is because this will help the company to provide their customers with the best products that they need and want. It will also help to provide a strong customer value proposition. This, in turn, will help the company establish strong brand loyalty and trust with its customers.