Product+Marketing Final

Product Marketing
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Agenda
In this session, we will discuss:
● Introduction to Product Marketing
● Visual representation of Product Marketing
● Building a Customer Persona
● Product-Market Fit
● Product Life Cycle
● Product Marketing vs Regular Marketing
● Responsibilities of a Product Marketer
● Critical steps of Product Marketing
● Measuring the impact of Product Marketing
Introduction to Product Marketing
Have you heard about the VW Electric Bus- the ID. Buzz?
Volkswagen – TV Commercial
‘The Sound of Silence’

playing in the background
• Eye-catching, unique, and fun marketing.

• Fits the 'Hippie' vibe Volkswagen is known for.
• Contribution to society’s interest in eco-friendly vehicles.
Who is involved in this kind of marketing?
Who contributes to content creation that informs customers about new

and updated products?
Who encourages the customers to make purchases?
Product Marketers
● Product marketing is the process of bringing the product to the market and making it sellable.
● The goal of product marketing is to increase consumer demand and product utilization.
● It connects the dots between the market and the product.
Deciding the product's positioning
Deciding the product's messaging

Product Marketing
Launching the product
Ensuring salespeople and customers understand it
Customers
Product
Product Customer
Marketing Marketing Success
Sales
Visual Representation of
Product Marketing
Visual Representation of Product Marketing
● Product marketing connects the dots between the market and the product (in both directions).
● It is responsible for two flows:
- Understanding the market (problem) in order to design the product.
- Communicating the product (solution) to the market.
Visual Representation of Product Marketing
Messaging Launch Promotion Adoption
Communicate
PRODUCT MARKET
Shape
Differentiation Scope Research Pricing
Building a Customer Persona
● A buyer persona describes the ideal customer for your business.
● It is also called an audience persona or a customer persona.
● It is based on market research and real data about your target customers.
● The majority of businesses have multiple buyer personas that they sell to.
● Some of the important characteristics that can be included in a buyer

persona are demographics (age, gender, income level, education, etc.),
psychographics (attitudes, beliefs, personality, etc.), communication
preferences, etc.
● Negative personas are buyers who waste your time and resources with little
to no intention of making a purchase.
The importance of creating a buyer persona
● Guides everything from product development to the channels and marketing messages you use to
promote your business.
● Helps you save money on marketing efforts as it enables you to send customized marketing campaigns
to each persona.
● Aids in determining whom you’re not targeting.
How do you create a buyer persona?
Identify your target audience.
Research your target audience.
Create a profile.
Identify their challenges and pain-points.
Develop a buyer persona.
Product-Market Fit
Product-Market Fit
● Product-market fit is when your product meets the needs of your buyer
personas.
● It means that there is a demand in the market for what you are selling, and
people are willing to pay for it because it is superior to the alternatives.
● It is the result of a thorough understanding of your customers and their
perceptions of your brand and product.
● Achieving product-market fit is key to a successful business.
Examples:
Product-Market Fit
How do you achieve a Product-Market Fit?
Identify your target customers.
Determine underserved needs of customers.
Define your value proposition.
Develop your MVP.
Test your MVP with customers.
Product Life Cycle
What is a Product Life Cycle?
● The product life cycle is the course of the life of a product.
● It is the time period from a product being introduced to customers until it is

removed from the market.
Four Stages of Product Life Cycle
Stage 1 – Introduction
● This is when all the research happens and the new product is introduced.
Stage 2 – Growth
● The product is manufactured, marketed, and released.
● Increase in distribution, demand, and competition.
Stage 3 – Maturity
● Product is widely available.
● Advertisements will have no strong impact on the product demand at this stage.
Stage 4 – Decline
● Product demand decreases.
● Product becomes obsolete.
Four Stages of Product Life Cycle
Product Life Cycle – Example
Juice as a product
1. Juice becomes available in food stores in plain packaging. Introduction
2. Juice becomes available in big grocery stores.

3. New types of juices are introduced. Growth
4. Packaging is redesigned to be more attractive to consumers.
5. The product is widely available.

6. Calorie count is reduced.
7. The taste is made better. Maturity
8. Different types of packaging are offered.
9. Due to extreme competition, the product is becoming obsolete. Decline
Product Marketing vs Regular Marketing
Product Marketing vs Regular Marketing
Product marketing is a part of marketing.
Regular Marketing Product Marketing

● Emphasizes the benefits for customers on a ● Focuses exclusively on product features and
company level. functions.
● Most marketing efforts stop at the acquisition ● Engagement with the customers at every
level. stage of their buying journey.
● Promotes the company, builds awareness, ● Typically targets existing customers.
and attracts new customers.
Responsibilities of a Product Marketer
1. Identifying the target audience for your product.
● To customize your product and its features to address the problems of your
target market.
2. Executing a product marketing strategy.

● To develop, build, and execute content and campaigns that support the
processes that will ultimately lead your buyer personas to make a purchase.
3. Enabling sales to attract the right set of customers.

● To attract the right customers for the new product and provide sales
enablement materials to ensure the sales team understands the product
inside and out, along with its features.
4. Determining the product's positioning in the market.
● To create and communicate the story of your product.
5. Ensuring the product satisfies the target market's needs.

● To uncover the pain points and challenges your product is intended to
address.
6. Maintaining product relevancy over time.

● To manage minor changes in your product marketing strategy or
modifications to the product itself.
Critical Steps of Product Marketing
1. Market Research
2. Product Development
3. Product Positioning and Messaging
4. Product Launch
5. Post Product-Launch
1. Market Research
● Marketing research is the process of collecting and analyzing data from consumers and competitors to
assist businesses in exploring who their target customers are and what they want.
● It is done to establish product-market fit and to determine whether a product idea is worth the
investment.
2. Product Development
● The product development process should be aligned with the learnings from market research to
ensure the product addresses the customers' needs.
3. Product Positioning and Messaging
● Product positioning is the process of deciding how you want your market to perceive your product.
● Identifying where your product fits into an existing market category is the goal of product positioning.
● Product messaging is how you communicate the benefits of your product to your customers.
● Product positioning sets the strategy, and product messaging brings that strategy to life.
4. Product Launch
● A product launch is a planned effort to introduce a new product to the market.
● The goal is to ensure that everyone inside the company, as well as the target customers, are aware of
the new product.
● Product launches come in different sizes, such as minimal launch, soft launch, or full-scale launch.
5. Post Product-Launch
● Post launch, it is crucial to keep an eye on sales and engagement to learn which channels and
messages are the most effective.
● This helps make decisions about dropping ineffective tactics and embracing successful ones.
● Conducting surveys and analyzing customer feedback to ensure that the product remains competitive
throughout its lifecycle.
Measuring the Impact of
Product Marketing
Measuring the Impact of Product Marketing
KPIs for Product Marketing
● Sales – This is the first metric to measure the success of a campaign.
● Product Usage – This metric tracks how valuable your products are to
your customers.
● Net Promoter Score (NPS) – This metric is a way for customers to rate
from 0 to 10 how likely they are to recommend your product or service
to others.
● Customer Churn Rate (CCR) – This metric measures the percentage of
customers that have been lost over a specified period of time.
● Customer Lifetime Value (CLV) – This metric measures the total worth
of a customer to a business over the entire lifetime of their account.
● Cost Per Acquisition (CPA) – This metric measures the total amount of
money that your company spends on each successful conversion.
Summary
Summary
● Product marketing is the process of bringing a product to the market and making it sellable.
● Product marketing connects the dots between the market and the product.
● A buyer persona is a description of the ideal customer for your business.
● Achieving a product-market fit is key to a successful business.
● The four stages of the product life cycle are – introduction, growth, maturity, and decline.
● Market research, product development, product positioning and messaging, product launch, and post-
product-launch are some of the critical steps in the product marketing process.
● KPIs for measuring the impact of product marketing include sales, product usage, NPS, CCR, CLV, and
CPR.

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Product Marketing

● Visual representation of Product Marketing

● Building a Customer Persona

● Product Life Cycle

● Product Marketing vs Regular Marketing

● Responsibilities of a Product Marketer

● Critical steps of Product Marketing

● Measuring the impact of Product Marketing

‘The Sound of Silence’

• Eye-catching, unique, and fun marketing.

Who contributes to content creation that informs customers about new

Who encourages the customers to make purchases?

Deciding the product's positioning

Deciding the product's messaging

Ensuring salespeople and customers understand it

Messaging Launch Promotion Adoption

Differentiation Scope Research Pricing

● It is also called an audience persona or a customer persona.

● Some of the important characteristics that can be included in a buyer

Identify your target audience.

Research your target audience.

Identify their challenges and pain-points.

Develop a buyer persona.

Identify your target customers.

Determine underserved needs of customers.

Define your value proposition.

Develop your MVP.

Test your MVP with customers.

● It is the time period from a product being introduced to customers until it is

2. Juice becomes available in big grocery stores.

5. The product is widely available.

9. Due to extreme competition, the product is becoming obsolete. Decline

Regular Marketing Product Marketing

2. Executing a product marketing strategy.

3. Enabling sales to attract the right set of customers.

5. Ensuring the product satisfies the target market's needs.

6. Maintaining product relevancy over time.

3. Product Positioning and Messaging

3. Product Positioning and Messaging

● A product launch is a planned effort to introduce a new product to the market.

● A buyer persona is a description of the ideal customer for your business.

● Achieving a product-market fit is key to a successful business.

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