Exchange: Selecting a product or service

Begin your marketing plan by selecting a specific product or service that the company offers to target customers in exchange for money. This is the core of any marketing exchange—the company provides a tangible product or a defined service, and the customer (in B2G, a government agency or entity) pays for it.

Specificity matters

Students often mistakenly choose a company, a product line, or an internal operational initiative as the focus of their marketing plan. This undermines credibility and demonstrates a misunderstanding of what constitutes a product or service in marketing. Your plan must center on a single, well-defined product or service that is actually sold to government customers—not a broad portfolio, brand, or internal process.

Selecting your product or service

Here are tips to help you select a product or service that will simplify your project and focus your efforts on learning and applying key marketing concepts and practices:

• Identify a product or service with ample public information and relevance to government buyers. Examples include a cybersecurity solution, specific infrastructure technology, or a defense system.
• Avoid generic categories like “IT solutions” or “consulting services.” Instead select a named offering, like “FedRAMP-authorized cloud platform” or “Lockheed Martin’s F-35 Lightning II.”
• Ensure your selection is researchable, with available data on features, performance, compliance, and procurement history.

Make it about the exchange

Frame your marketing plan around the exchange of the product or service for profit. A primary function of your marketing program is to align the activities of the organization to deliver value to a specific type of customer in exchange for money at a profit to the organization (2). Use this exchange of value for profit as the anchor for all subsequent analysis—industry, collaborators, competition, segmentation, targeting, positioning, and tactical planning. This approach demonstrates your understanding of marketing fundamentals and builds credibility with academic and professional audiences.