Business Expert

Two fundamental principles that Steve Lesnard highlights for marketing strategy.

According to Steve Lesnard, the manner in which new products are marketed have changed drastically. He says the change is due to social mediums that are new and energetic. The choices have incredible benefits if they are well leveraged. The strategy used by brands to get into the market is to satisfy the needs of their customers. The products introduced in the market should be at a position to benefit the consumer by adding value to their lives for them to be successful.

Steve Lesnard gives two key principles that one should follow to market new product successfully. The first principle is keeping the product simple so that it can be memorable. He says that the product being introduced should articulate the benefits of its consumers in a clear manner. It should give an outline of what is new and what is better. Communication should be based on features that are relevant and innovative.

A good example is how Apple company maintained their focus on simple benefits that were meant to create a solution for their consumers who needed music on the go. Apple company has always kept it simple but continuously giving their consumers a reason for an upgrade. They have introduced ECG. This is a new feature that is meant to expand their consumer base to reach their older consumers while delivering their mission of democratizing technology. Peteton has also made use of this principle. By keeping it simple, they have managed to take the fitness industry to another level. They give homes private studio for indoor cycling.

The second principle that Steve Lesnard talks about is bringing your product to life to make it real. The main focus of this principle is the consumer experience. The medium that is used should be realistic. The medium should answer some of the questions like does it look good on you? What exactly does it do? How should it be used? Videos can be used to place a product in the context that is right for marketing. The medium employed should also be at a position to join consumers testimony and the storyline. For example, a company that has successfully utilized this principle is Yeti.