How To Market A Product Whose Demand Is Extremely Low?

[Good-Guy]

Marketing any kind of product is not easy. marketing requires not only capital, but also a lots of effort by the team that is usually hired by many companies to promote the product in stores and even on streets. marketing usually depends on the demand of the product. The supply and demand theory is VERY strong and it plays a huge role when it comes to promoting your product. promoting a product that has a very high demand is usually much easier, but ye the real challenge is to promote product whose demand is very low. The demand of a product could be low due to various reasons.

Some of the major reasons that lowers down the demand of a product is the lack of need of general public for the product! this is one of the basic things any product manufacturer or businessman should understand before launching the product in the market. Unfortunately, many businessmen do not understand this basic thing and suffer. Other things that could also lower down the demand of the product is false rumors about the product. Such kind of "dirty strategies" are often used by the competitors to destroy the demand of the products of their rival companies in the market. How would you market a product whose demand is low?

 

[Jasz]

If you are attempting to market a product whose demand is extremely low, you should focus on creating a plan that is simple and easy to execute. You should take into consideration the fact that you will be marketing a product with a very small number of prospective clients when determining how much money to spend on advertising and the extent to which you will be participating in social media or other online communities.

The key to creating an effective strategy for this type of product is to focus on creating multiple avenues through which customers can find your business. This could include advertising in local newspapers and magazines, creating a website with an easy-to-find domain name and search engine optimization, and participating in social media outlets such as Facebook and Twitter.

You should also consider offering incentives for those who purchase from your business, such as discounts on future purchases or free shipping.

You could also ask your friends share your product in their party as gift, offering them reasonable discounts. This will get your product out to the public, and if they like it, they will surely ask for more.

But then, should you go into business whose demand will be low?

 

[Alexandoy]

We have a family friend who got a job late last year as an attendant in a classy watch store. I will not mention the brand but the price range starts at $10,000 which means the store caters only to the wealthy people. But come to think of it that having a phone means you also have the time because all phones have the date and time. The wrist watch is relegated not as a time piece anymore but it is now a jewelry. I still see people wearing a watch but usually the expensive watch and the cheap ones have no more buyers to speak of.

The family friend said that a sale is rare but just 1 sale in a week can cover the overhead of the business. I can agree to that because I know that such luxury items have a big mark-up on the price. However, I'm sure that the store is getting a good business because it is inside a classy mall that is not patronized by the masses.

 

[Caramelle]

One of the best ways to bring back a product with low demand is by bundling it with a related popular product. For example, you might see mouthwashes and toothpaste bundled together in a sales package. Sometimes, we can see dental floss with toothpaste or toothbrush. Bundling doesn't have to be limited to the company's own products. Two or more companies may agree to sell bundled items for better market appeal. For the marketing program to be more effective, the bundled products should have a similar target market. My old company used to produce and market a masculine wash product. It was somewhat a novel idea in a culture where people are more accustomed to feminine washes. The product appealed to metro males but it did not take off as expected. The product gained some popularity when it was bundled with products like facial shaving cream for men.​

 

[eldavis]

I think the first step you should take would be to find the reason why the product had low sales in the first place. You can create a survey and find out form customers their reaction to the products. The next step would be to work on the mistakes mad the first time, then rebrand. You can make little changes like the design of the packaging, and as well it's ambassador. It would be best to better enlist the help of a popular celebrity as your ambassador, this would help boost the sales as well.

 

[Kingsley]

One will need to do a background check as to why the products became undesired by it customers this will grant us more insight as to why the produc is not doing well again in the market. And why it competitors are doing more better. Then when that has been known and rectified, we must be go into what one's competitors are doing differently and look out for their weakness and explore it with all it takes. More So when that has been discovered we must then look into how to improve on our product and add more value to the product.

Next we will need to explore every possible channels available to get the advertisements of the product done. We must also engage the services of professionals marketers that will focus more on the target customers. When that has been achieved definitely we will be to buy their attention back to us.