Do you think marketing and advertising is what defines the success or not of a product or service??
Do you think marketing and advertising is what defines the success or not of a product or service??
No! The quality and preceived value of the product make the product a success. Sure marketing gets attention for a product, but if the product is garbage it will NOT survive not matter how much is spent on it's marketing.
i agree with standready all the way... it is mostly the quality and usefullness of the product itself. No product can survive without that. No matter what it may or may not be.
I definitely say service. And I say that because of the experiences I have with my own phone company. I have dialup internet. DSL is unavailable in my area. Yet I'm constantly bombared by unsolicoted emails asking me to switch to their DSL service. Moreover, even if it were available, I would be uninterested in switching, and they know both facts, so in this case, marketing is actually hurting their service, not helping it.
Not only that but their service isn't that great anyways and I've considered turning off my phone/internet altogether.
It largely depends on what kind of product you have. You can divide products into a few categories:
Short live cycle:
These products need a lot of advertising to maximize that surge in demand.
Long live cycle:
Advertising can also be essential, but the product is not so dependant on it because you can try to sell your product because of people telling each other of the product.
Can you add categories?
What about a new product, new products may rely entirely on advertising, lets say a perfume or a movie. Also I think it is better for a product or service to achieve success as soon as possible even if it is a eally good product that can be recomended by word of mouth and eventually achieve sucess.
Because of the competition, nowadays things can be copied or cloned very easily, so maketing will make things happen sooner.
There are definatly technicalities on everything.
For example; a new deoderant comes out, the packaging is flashy, and there are 5 commercials about it on every channel every hour.
Everyone will want to find this deoderant, and since the commericals swear to you that is is the coolest, and the best, your population (especially America's youth) would be driven to find this deodorant, buy it, and be the coolest. Regardless of if they like the smell, usually. If the others are doing it, then they want to be doing it too! I suppose peer pressure is really the best driving force for marketing stratagy out there, now that I think about it.
For example; A new car comes out. The car is not shown on any commercials, but is put on the show room floor of every Porshe dealer, nationwide While this marketing stratagy is definatly anything but direct- untill a consumer walks in the door, that is, they do not know about it. However, the reputtion of Porshe as a car manufacturer preceedes itself, and could quite easily sell a box of manure with wheels to atleast one person, if they slapped a $100,000 price sticker on it, and topped it off with a sticker, alongside a greasy saleman. So, reputation is also a great way to simply get your product out there, and since reputation is usually gained from having a quality product, and time-tested longlivity(SP), that is also an important aspect to marketing.
So, I can see how both sides of that arguement proove 100% true, however, it would really depend on the company, and product, and how they want to sell.
Is worried that his layout of examplecommentthoughts won't make much sense,
Even if I partly agree that quality is (or at least should be) the most important I think that there are examples of not very good products that are extremely successful because of other reasons: marketing being one but also service, new concept...
For me the most obvious example is Mc Donald. The product quality is rather poor. Almost anybody can make a better hamburger at home than Mc Donald sells. But anyway it works.
I think advertising (even if only by word of mouth) is important, but so is having a good solid product and a good accountant. Infact, there are many things you need to run a good business, accountants save you money, marketers make (and spend) it. I guess it depends on your budget.
First of all lets separate marketing from advertising - an advert extols the virtues of a given product, marketing produces a brand identity for a product of company. Given this, doesnt it strike you as slightly abhorrent that so many billions are spent each year building "brand identities'? Not giving us information, not producing anything, not developing their products, not helping anybody... Why? Can we not find a better use for this money?
OK, I'm a copywriter, so here's my two cents on the subject, lol.In the old days products were made because there was a need for them, or because the "gap" in the market was identified by the manufacturer...nowadays , with a surfeit of everything, needs are invented to market products. This essentially is the transformation of advertising/marketing as it used to be and as it is practised today. most products rely on spin to take off and survuve, while very few have genuine value intrinsically.
Raghu has a very good point. At this day and age, there are alot of similar products that need something to set them apart and make them stand out.
Part of doing that is by, duh, marketing.
Good quality innovative marketing would show the consumers, "see? They are so confident of their product that they are willing to spend all those big bucks to make those commercials and have them run every 30 secs."
Although products should really focus on being improved rather than marketed, but thats just how the economy works.
Let me attemp a different approach! I think we have to analyse here a very important concept: "Need". People have needs and those needs are only satisfied with products. So when a new product is introduced first it has to pass the need-based test! this is when usefulness is very important as some of you have pointed out.
But then when the need is met and the product faces competition then there is a Social-base test, this is when marketing comes into play! It has to demostrate that the product is not only usefull but also that it will gives the user an advantage over the other products who are also usefull!
There are two kind of needs as identified by the economic theory:
1- Biological needs
2- Social needs
and the are also in that order of importance. First you have to meet your bilogical needs and then your social needs.
In the example of the deoderant you have pointed out first is the deoderant effect which satisfy the need but then comes the "cool" aspect of it which gives the user an davantage over the others (also usefull) deoderants in the market.
The only occasion when a product is succesful without advertising and marketing is when it is the only in the market so its price eslasticity of demand is very inelastic. But when competition comes and substitutes appear everywhere then, marketing and advertising are needed. This usually imply an improvement of the product and a net gain for the consumer who benefit from a better product quality. that is why we economists say "competition is good for the economy!
I think this is not always true. it doesn't really depends on the time but on the economic power of the society (or the market) in target for the new product. If the consumers in the target market have a very high buying power than they can afford to invent new needs (which are usually social needs) but when is a very poor society (such as in my country: Nicaragua for instances), than usually the only products available in the market are going to be for those very basic needs.
I do not think needs can be invented, actually there is a number of needs that always remain the same, what marketing tries to do is create desires, that feeling of need that certain successful products have.
Like you also stated a useful product without competition does not need much marketing efforts to be in everybodies´s hands, but when new players arrive they will try to appeal to the emotional side of the individual thus their desires.
Needs that aren't there cannot be created. But clever marketing often tries to uncover hidden needs that consumers are not aware of themselves. And finally link it to the product.
Needs can be created. Needs are not really needed most of the time.
Good marketeers make people feel they need something, even if they really don't. Survival or a good product is not important for a marketeer, as long as it sells he is happy. Might be a crappy product, but after some time, we can always put another crappy product on the market.
Personally, i like to work for strong brands, and good products.
But i think you can say marketing is more important than the product itself.
How you sell it, says more about profit than the product. In the long run maybe not, but who says i want to sell my product in the long run, maybe i just want short-term profit...
Marketing is a HUGE part of the sucess of a product, but only to a certain extent. I could be selling a miracle product for virtually nothing, and make no money if I never told anyone. If I DID tell someone, word would probably spread pretty fast. Bear in mind that this is a "Miracle Product". If it were a lousy product, I might sell a few, but it would not have the intrinsic sucess of it's miraculous counterpart. On the other hand, even really stupid product can sell like hotcakes when the right marketing is applied to them (pet rocks, anyone?) therefore, it is logical to assume that if you visciously marketed a miraculous product, it would see the best sales. (this conclusion seems so obvious that I sortof wonder why I posted this. It was probably a waste of calories because ANYONE can deduce that much )
Don´t you hate how companies try to sell their products at any cost?
First, a small correction advertising is a part of marketing and not it's own entity. Secondly, if you have not got a service or product that is marketable (meaning there is not a customer for it) then marketing will not work.
Marketing is about gaining (and keeping) customers. By matching benefits to customer needs. So marketing actually starts with customer, competitive, and product research.
So in closing I guess if you have done your job on marketing correctly you should already have a product that can be sold.
BTW Garbage has a customer as well, recycling companies are paying pretty good money for our garbage these days
Marketing has to be viewed as paramount to any products sucess. Itrs just vital. If nobody knows that a product exists then nobody will buy it.
I think advertising have a lot of influence in some people, and through this advertiser tend to create an image. Just look what brands like gucci and rolex have created, the cost of there products lets say is 1 dollar but they sell it in 100 dollars. Why??? Because there is people that will pay for it. Why??? Because there is people that need to feed there selfesteem and because they beleive the more expenseve the more prestiguous something is. Advertising creates this prestigeous image in the mind of the consumers, and thats why they are capable of selling does products at so highe prices. I dont think no one is wrong in here, since the consumer is in need of an illusion and the producer fills this want.
It depends...one of the steps in a products life-cycle is to define goals and objectives in beginning of the project. One must also identify a metrics or system to measure those goals and objectives. An object may be a corporate success and a customer failure. I have seen this happen before when a company forces a product out and really doesn't understand the target market. In my experience the bottom line is a common indication of success or failure.
of course target market is important and I agree that a marketable product is since the beginig a succesful product. Do you think a producto without advertising and other marketing techniques will be successful or not?
No If you have a great marketing campaign and get them in the door and you can not sell well you are not going to make money.
You see the sole purpose of marketing is to say "Hey I am HERE and HAVE TO COOLEST THING SINCE SLICE CHEESE? COME IN AND SEE?"
The next step is to sell which is just as inportant and If you sell beef steaks what do you sell?
Sell the Sizzle, not the steak. You sell the feeling you get when you throw that huge piece of beef down and it hits the grill and you hear it the "SIZZLE"
It is like a chior of angels praising you, like the king that you are.
Then we have finance: This is the money you get from the sale and where it goes. wages, bills, fees
Finally we have procedure this is how everything is done. The step by step process that is needed to get things done.
I will say the lack of marketing and advertising is what defines the lack of success of a product or service.
But marketing can be free and most should be in fact everytime you talk about it you are marketing it. If you are starting out keep it simple.