Figuring Out How To Market Standardized Goods and Services
One of the challenges facing marketers these days is how to advertise and promote standardized goods and services. A pencil is always a pencil, right? There is nothing particularly special about a product or service that is intentionally not particularly special. But that doesn’t mean you don’t need to sell these things. It just means that you have to figure out how to sell them in a way that makes sense in context.
Think of some instances where it requires some creativity to market standard and common products or services. It can be challenging for a project manager to know the difference between one industrial product in another. With proper marketing, however, those project managers will be much more likely to buy from one company as opposed to another.
Then there is the matter of high-competition industries. If something is in high demand, and the product itself isn’t spectacularly intriguing, then how do you market it? There is an interesting method called the Blue Ocean strategy to solve some of these things. And no matter what, marketing managers should always avoid racing to the bottom when trying to get new clients.
As an example of trying to figure out how to market a standard or unexceptional product, think about how a person would promote a standardized pump. Any building or project that requires the flow of liquid is going to need a system of pumps and pipes. How do they pick which ones they’re going to use? The answer to that is that they are going to do some research and find out what seems to be the best referenced, marketed, and reviewed online. So you see where promotions for these kinds of items really come into play in terms of business success.
Then there is the matter of high competition industries. For example, in a large city, there are going to be lots of dentist offices. How is a person in that city going to decide to go to one office rather than another? Good marketing campaigns can highly influence people. Getting your teeth cleaned is going to be about the same anywhere you go. But if one place does a better job of marketing their services, especially toward a specific kind of client, then they are automatically going to have a captive audience when it comes to promotions and advertising.
Blue Ocean Strategies
One way to approach marketing is through appreciating the Blue Ocean strategy. This is a marketing strategy that has been around for a while, and it is a way for companies to find out where they best fit into the industry in which they’re competing. They find out what their competitors are good at, and then promote themselves as the mirror image of that. It is a fascinating way to help business owners find their place in a dense and competitive market.
Avoiding the Race To the Bottom
As a marketer, you’ll hear the term racing to the bottom quite frequently. One of the ways to try to distinguish yourself when it comes to a standardized product or service is that you can market yourself as having the lowest cost. The problem with this is that if you produce an inferior product, that low cost isn’t going to matter because people will eventually purchase things that work or that are high quality rather than something that appears to be useless after an amount of time.