Discuss marketing challenges and ways to promote products provided in sales metric
Companies face marketing challenges daily. The challenges determine the future of the company, and if the situation not mitigated, companies end up running on losses, and finally, closure is the only option left. Marketing challenges need identification, and solutions found to avoid poor results. The various challenges include lead generation, target audience, content marketing, the latest marketing trends, and return on investment(ROI).
Lead generation is the ability to identify and attract potential customers. Methods of reaching target audience matters, and if plans are inadequate, business runs on losses: target audience demographics- persons to reach products or services offered. The wrong target audience would mean no or little income generation. Content marketing varies from the quality of the product to the target audience. Products of poor quality tend to be off-market sooner or later. Ensuring good quality ensures the target audience maintained and reach increases. The latest marketing trends are essential in a business. Keep up to date with the changing world through research. The decline in ROI indicates business failure. New strategies to increase ROI needed.
From the sales metric provided, product line one does most well in July, Product line two in July and product line three in august. Increase production of the three products during their peak. New marketing methods put into practice for a better reach. Product line three has poor sales during June and July. Changing the marketing strategy for the product would be advisable or opt-in, increasing the target reach. Product line two does poorly during august; hence the product marketing needs more emphasis during august. The product line does poorly in June, and new methods should be employed then. Restrategize during the low sales and monitor progress daily to see if there is a need for another change.