Product Marketing vs Demand Generation

This article will discuss product marketing vs demand generation. It will talk about the differences and similarities between the two. So, if you want to know, then read on.

Product Marketing vs Demand Generation

To begin, let us define each one. Product marketing refers to the process of planning and executing the marketing strategy for the product. It involves the identification of the target market, doing the research for the product, planning the sales and marketing strategy, and then executing.

Demand generation is a subset of product marketing. It is a process in which companies try to generate demand for their products or services. This can be done through various ways like media, trade shows, telemarketing, and more. It is also commonly referred to as lead generation.

Then, this is different from product marketing because although both may do the same thing for a company (generate leads), they have different goals. Product marketing has a long-term goal of creating brand awareness and building the company’s reputation among the target market. 

Meanwhile, demand generation has a short-term goal of generating leads that will become sales opportunities by converting them into customers.

To sum it up:

• Product Marketing. Planning and executing the overall marketing strategy for the product. This involves identifying the target market, doing research for a product, developing a sales and marketing plan, and executing it.
• Demand Generation. A subset of product marketing where companies try to generate demand for their products or services in various ways. Like media, trade shows, telemarketing, etc.

Why Product Marketing?

Why do you need product marketing? For one simple reason. To generate leads. To expand your business you will need to get more customers and to do that you will need to create a marketing strategy. So product marketing plays a big part in this.

Because most companies already have sales teams that convert these leads into sales opportunities. Product marketing is the source of these leads. 

So, this is the reason why product marketing is very important for any business. Because it will help them get more sales opportunities and increase their reach to potential buyers.

Why Demand Generation?

Why should you develop a demand generation campaign? You may wonder why you should invest your money in it if you are already doing product marketing campaigns like advertising on TV or billboards. 

The simple reason is that most people want to buy but they are not aware that they want to buy your product. They may not even know that they need your product at all. So to reach out to these people who may be potential buyers of your product, you need a good demand generation campaign so that you can reach out to them. 

So it is a good idea for companies to create campaigns as part of their business strategy. Because it will help them get more sales opportunities. This is by increasing awareness about their products or services among potential buyers.

Conclusion

So, if you are starting a new business, or you want to expand your business, or you need to create a marketing strategy, then you need product marketing and demand generation. Because these will help you in your business.