Are you considering a "market strategy" company to help with your product marketing efforts? Not all market strategy companies are created equal. Beware of three types of firms that masquerade as "market strategy" companies:
- The Marcom Helper. Some companies that claim to do market strategy don't mean "strategy" at all. Instead, they perform tactical work such as designing professional-looking web sites, composing pretty brochures, or organizing PR events. While tactics are important, even essential, they usually must implement the overall strategy to be effective. Does the firm understand your strategy and how to implement it?
- The Unprincipled Strategist. Marketing strategies usually won't work if they fail to satisfy certain marketing principles. Does the firm understand the principles of positioning and branding?
- The Uninformed Strategist. Determining the best strategies to guide your product marketing requires a thorough understanding of prospective buyers, the problems they face, and competing products. Does your firm perform the necessary research?
In short, a skilled product manager or product management firm should guide your product marketing strategy.