Marketing mix; Tips from Jack Rochel

Before marketing a product to the public, it is important to understand how to market it, how to price it, where to sell it, and the promotional messages. When the president and CEO of Epsilon Electronics Inc., Jack Rochel needs to market his new products, he needs to think of all of that before launching.

Jack Rochel

Jack Rochel has been working at Epsilon Electronics Inc. for over a decade and would like to share his tips on the 4 P’s also known as the marketing mix. When he and the research and development team are thinking about new products for next year’s catalog, there are an array of things he has to think about before beginning on working on new products. Some things to think about are what the customer wants from the product, what features does it need to have in order to meet the needs of customers, where will the products be used and how, what will it look like, what will the product be called and how will it be branded, what is different from your product as compared to your competitors. When these have all been established, now it is time to invest time in designing the product.

When thinking of price, it is not best to price it too low since customers might think the product is too cheap or too high since it might turn customers off. Jack Rochel knows that doing your research on price will pay off. Some questions you might want to ask yourself on pricing are: what is the value of the service, compare price points from similar products, are your customers price sensitive, should you offer discounts, how will you price yourself from the competition.

The places you decide to make your products available will make a difference on your bottom line. You have to fire out where your customers look for you. Jack Rochel has put his focus on selling his products online as well since he works in the tech industry, most of his customers are searching on the Internet. He even has to have proper distribution channels available to better serve his clientele. It is also beneficial to attend conferences in your industry to see what your competition does and what can you learn from them. It is vital to be able to differentiate yourself from competition in order to be successful.

The last P to think about is promotion, so where and when do you reach your customers which mediums will you take to reach your target market, when is the best time to promote your product, and how do your competitors promote.

Jack Rochel has always been researching the 4 P’s in order to successfully launch his new products and reach as many of his target market as possible.

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