Strategic Marketing Instruments for Product Promotion on the Marketplace

Abstract

Digital trading places change traditional approaches to product promotion due to the ability to accurately assess market volumes, competitors, choose the most effective promotion strategy and marketing instruments. With the development of digital marketing, online stores are increasingly being used not as an intermediary between the seller and the buyer, but as an online sales platform. This led to the emergence of a new format of trade and the transformation of the traditional e-commerce market, changes in the role of sellers, active participation of the buyer in the formation of supply and marketing. The use of digital instruments for competitive analysis of a potential niche of the product facilitates promotion and allows to evaluate the potential level of income, optimize promotion instruments in the current period. The article is aimed at identifying a set of strategic marketing instruments for promoting the product on the marketplace. The article on the basis of competitive analysis cases discusses practical aspects of using digital instruments to determine sales potential in a particular market. The main strategies for product promotion and the advantages of each strategy are defined. Based on the practical sales case of three types of products using a digital platform and instruments for promoting these products, the efficiency of each instrument has been identified. The effect of promoting each product is evaluated using conversion rates, rating, sales ratio using digital platform advertising campaigns to organic sales of each product. It is proved that thanks to digital platforms, the manufacturer, the seller of the product in real time in the current period has the opportunity to redistribute the costs of various marketing instruments of promotion and ensure sales growth, product rating. The product sales performance indicators (conversion, rating, and volumes) allow to adjust the promotion strategy (update the brand, content, listing) in the current period, which reduces the risk of shortage in sales. The author emphasizes that further research should be directed towards studying practical cases of product promotion on digital platforms for the formation of theoretical and methodological aspects of marketing in the digital environment.