Marketing Plans for Niche Markets
Marketing a Weight Loss and Control Equipment and Supplies Business
A profitable weight loss and control equipment and supplies business is about more than supply and demand. It's about designing ways to entice new customers to engage with your products and to encourage existing customers to increase the frequency of their purchases.
There are no shortcuts to success in marketing a weight loss and control equipment and supplies business. In this industry, the application of fundamental marketing tactics is more valuable than promotional fads and gimmicks.
What to know the characteristics that distinguish leading weight loss and control equipment and supplies businesses from average companies? Most of the time it's not the quality of their product offerings -- it's their ability to communicate granular marketing messages to their customer base.
Why Branding Matters
Branding isn't just a marketing buzzword. It's a core concept for businesses trying to entrench themselves in consumer consciousness. Any and every weight loss and control equipment and supplies business possesses brand value. Some brands struggle to achieve recognition with consumers while others seem to be quickly embraced by the marketplace. Companies that incorporate brand positioning into their normal marketing routines gradually accumulate higher brand values and are rewarded by consumers.
Loss Leaders
Like many businesses, weight loss and control equipment and supplies businesses understand that more customers will walk through the door if a few products are priced at less than full retail value. Although you may lose money on one product, you can make up for it buy selling a higher volume of other products. But to be effective, loss leader marketing requires planning, especially in product selection and price points. For weight loss and control equipment and supplies businesses, the real benefits of loss leaders emerge through the careful marketing of other products, usually offered at a much higher margin. Also, it's important to carefully consider the quantity of discounted products you are willing to offer at the loss leader price since stockpiling or a high volume of loss leader sales can negate the revenue benefits of this strategy.
Public Relations Strategies
Public relations is more subtle, but no less powerful than a full-blown marketing push. For example, if you buy a premium mailing list and use it to conduct a direct mail campaign, that's marketing. On the other hand, if the Sunday paper runs a story about your weight loss and control equipment and supplies business, that's PR. The art of storytelling is a core PR competency. Storylines need to be believable and objective while communicating your brand's strengths and value proposition.
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