Commodity policy in marketing
Commodity policy is used in marketing withthe aim of maximum satisfaction of all the wishes of the client and, as a consequence, to increase profits. That is, as the primary factors, it is precisely the desire and ability of the consumer group to purchase a particular product, rather than the capacity of production facilities.
The commodity policy in marketing is aimed atthe realization of exactly the products that customers need, rather than forcing them to buy those goods or services that are profitable for manufacturing enterprises. In this case, it is not enough just to start manufacturing in accordance with the wishes of consumers, you need to make a quality product. After all, the main characteristic of the product is quality, it can be conditionally divided into real and perceived.
The first is that which the readyproducts in reality, managers and technologists of the enterprise have an idea about it, as they are engaged in its direct development. Under perceived quality is meant the client's impression of using a certain product. From the point of view of commodity policy, it is the latter that is important, because the level of sales depends on it. If the customer does not like buying, he will not listen to the opinions of technologists and will never pay any attention to this firm.
Another important feature in the marketingactivity is the competitiveness of a particular product on the market. And the commodity policy in this case implies the ability to compete with others on consumer properties. A common mistake in promoting a product is that experts view it as an object, but it should be understood how much it satisfies the client's needs. The consumer, in fact, does not care what the goods are, for him the main thing is how he will benefit him and how satisfied he will be.
If an enterprise occupies its niche in the market, butthere is no increase in the level of profitability, then one should choose one of the three following types of commodity policy. The horizontal involves the introduction of new products into the production activity, which is not too different from the already existing, and therefore does not require additional costs for implementation needs. It helps the company attract the client's attention, interest him. For example, the firm is engaged in strictly auditing inspections of organizations, and now provides consulting services to highly qualified specialists in the field of accounting.
As radical measures,conglomerate commodity policy, which is based on the introduction of new products in production, radically different from the specifics of the firm. This method requires a serious approach, since quality planning of all costs is necessary, it will be necessary to develop new sales markets. Nevertheless, this will attract a large share of the consumer group. Concentric product policy takes an intermediate position and is based on the search for a product similar to the technological characteristics that would interest the client, but did not require the development of other market sectors.
A competently chosen product policy allowsenterprise not only securely gain a foothold in the market, but also take a leading position. It is very important to create a logo or brand recognition, because if a company is identified by customers, it means that it has won their trust. Of course, this is the great merit of the clear work of the advertising campaign, which also contributes to the multiplication of the number of clients. But in order to be consistently successful, one should adhere to the tactic of continuous updating of the product range.
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