Balancing profitability and promotions in Product Marketing: Are you effectively managing your bottom line?
In product marketing, striking the right balance between promotions and profitability is an art. To ensure you're not sacrificing your bottom line:
- Analyze promotion performance regularly to identify which offers truly drive profit.
- Set clear objectives for each promotion, tying them to measurable outcomes.
- Balance short-term gains with long-term brand value, avoiding deep discounts that may devalue your product.
How do you balance promotions with profitability? Share your strategies.
Balancing profitability and promotions in Product Marketing: Are you effectively managing your bottom line?
In product marketing, striking the right balance between promotions and profitability is an art. To ensure you're not sacrificing your bottom line:
- Analyze promotion performance regularly to identify which offers truly drive profit.
- Set clear objectives for each promotion, tying them to measurable outcomes.
- Balance short-term gains with long-term brand value, avoiding deep discounts that may devalue your product.
How do you balance promotions with profitability? Share your strategies.
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Gerenciamento de resultados é mandatório no marketing. Isso é o que garante a sustentabilidade da empresa. Para isso é muito importante ter uma metodologia clara e bem definida de gest?o de cobertura de objetivos de vendas. Quando a cobertura de objetivos n?o acontece, importante entender o real motivo e agir sobre ele, atuando nos desvios. Isso faz com que o investimento de marketing seja realizado onde é necessário, trazendo os resultados para a empresa.
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Um exemplo que já vivi com sucesso: -primeiro, negocia??o com fornecedor. -compra de grande volume de produto -boa coloca??o de produto -boa comunica??o, -apresenta??o de um modelo operativo E...cria necessidade no cliente e consequentemente rota??o de produto
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Beginning with a solid understanding of the right mix of offers that drive genuine value. Regularly evaluating promotion performance helps ensure that you're not sacrificing your bottom line for short-term gains. By setting clear, measurable objectives, you align promotions with business goals, maintaining both customer satisfaction and long-term brand value.
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Early in my career I was involved in building a Black Friday promotion that at the time was considered wildly successful. By promoting our CPG goods with BOGO's and bundling sets with freebies we were able to generate 30 million in sales in one weekend. Execs were ecstatic, everyone was congratulated and we went home feeling happy. And then the sales of our product tanked for the next 6 months and things got painful. All because our core market had purchased 6 months worth of product in November. It created a vicious cycle and also led to a lowered public perception of our brand because everyone thought that one sale would be repeated. I learned the hard way that product promotions should be thought about from a long term perspective.
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I don’t think balancing is the right approach. Both of these should not be the purpose of the businesses. They should be by products. Business should be driven by value and it should come from innovations. Innovation doesn’t always mean coming up with new products, it can also mean finding an efficient way to use the existing products. Promotions should never come at the cost of profitability in my opinion. Compromising profitability for scalability is still acceptable but definitely not for promotion. In today’s world, if the offering is good, consumers will consume because the accessibility has increased exponentially. So, value is the key.
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