Billions of dollars are spent on marketing each year Pepsi alone has a marketing budget of $2 Billion. Some companies might have a fantastic product, but it might fail to market it which may fail the firm or at least the product. So marketing in the simplest words is getting the word out there, letting people know that your product exists and convincing them that it is worth the price you are charging by using persuasive advertising or informative depending on the nature of the product. The best ways to market a perfume, for example, could be by using heavy persuasive advertising, persuasive advertising is a type of promotion which tries to persuade future customers to buy a particular product. Social media is one of the most influential marketing tools which should be used to market such products; nearly two-thirds of American adults now use social media. The most famous ones are Facebook, Instagram, Twitter pick one of these and master the marketing techniques for the specific platform. Contest and giveaways is another efficient way of marketing a product, everyone loves free gifts, and for a product like perfume, this method is really powerful because the more people who try the perfume and like the fragrance the more sales. The last and my personal favorite are attracting the media, pull a publicity stunt like the one done by Sir Richard Branson which attracts the press or sponsors an event by providing free products.
In the end, it all depends on the nature of the product and the marketing budget, but these are some of the best ways which could be used to market a product.
Thoughts on Business by Steven 