What is the best way to market a product?

Ring up the local paper and talk to a reporter regarding local skills and talent. free PR is better than any advertising. Failing that you need to do response advertising, this gets replies if it is working. Pay kids to hand out leaflets or do Market Research for you. Hope this helps.

I believe word of mouth because people can spread things fast. They usually would refer someone for your service if, you are a good business person.

Depends on what it is. E-bay is always an easy place to start. As is a web-site. Internet business in sales is booming. You could also try doing heavy promotion locally and see if your product is well received. See if you can get some local businesses (privately owned, not like Wal-Mart)to let you display and sell your product for a small percentage of sales or something similar.

Well, it really depends on what the product is. But, make sure whatever you do that your marketing targets the audience that you want to target.