Marketing Strategy Question On

[richard256]

Hi. Say I come up with a product idea, resulting from a problem faced. Then I make a plan which involves validing the idea with customers and advertizing. Is the plan, or the decision to validate the idea and advertize the product a marketing strategy, or part of a marketing strategy? If not what would it be to plan to do these two things? Thanks.

 

[intheTRADE]

Validating an idea and advertising are two completely different things.

Obviously advertising is course part of your marketing plan but you shouldn't be doing any of that before you have fully validated an idea in your market research to determine whether there is a need for your product and most importantly whether people will actually buy it.

 

[richard256]

If you take the view that advertizing is beyond simply offering the product for sale, clearly you have the option of to advertize or not. On the other hand, you might say every firm must validate their product idea. Let's say for argument, that everone validated as a matter of course, but not every firm advertizes their product. I can see that the decision to advertize is of the nature of a marketing strategy. Unless more detail is required for it to amount to a strategy. On the other hand, I'm not so certain validation would amount to a strategy. Are there any degree-trained marketers on here, that could address these points. Thanks. Rich

 

[richard256]

Ok, I read this from a Wikipedia article: "Scholars continue to debate the precise meaning of marketing strategy. Consequently, the literature offers many different definitions. On close examination, however, these definitions appear to centre around the notion that strategy refers to a broad statement of what is to be achieved." Therefore, validation I guess would not count as strategy on the basis that's it's not based on what a firm wants to achieve. Even though validation is essentially a marketing task. Validation in my my book, meaning establishing a market need for the product.

 

[WebshopMechanic]

In my opinion, until you know 'who' you are selling to and what their problems are, you can't create a marketing strategy. You need to know the problem you are solving or the gap you are filling.

Yes, you can do market research but that isn't a marketing strategy, it's more like market research.

You would then create the strategy off the back of your findings.

Of course, there are arguments that some people create courses or pre-sell products to their existing audience to gauge uptake and then cancel the product if the demand doesn't meet the minimum required.

But generally, you would undertake market research before you manufacture something.