Many people believe that to sell a product you need to spend a lot of money on advertising and promotion, to build a brand name for the product. This may be true for consumer products where there is little differentiation between the raw material used and quality of the products. For Luxury products, also, perceived value of a particular product is important, so money has to be spent advertising in periodicals popular with buyers of such high end products or on promotions.

However for a vast majority of industrial and technical products, the brand does not matter. Making potential buyers aware of your product and its features is sufficient to generate inquiries. For many products, buyers are aware of only a few reliable suppliers or sellers, so they will be happy to evaluate an offer from some other supplier who may be able to offer a better product at a lower price. Even if an order is not placed for the first inquiry, the supplier will receive regular inquiries in future, some of which may be converted into orders subsequently.

So effective marketing of a product involves fulfilling a need which is not met by the current products and services available in the market. Aggressive promotion is not required, many products get sold automatically.

Filed under: cheap, effective, marketing