Importance Of 4P’s In Vending Business
Wondering which business to take up? Why don’t you consider vending business? Yes, vending is one of the rarest and most promising businesses that require low capital and ensures instant revenue. Though these machines were initially used for vending selected products, with modernisation and technological advancements, they are used to vend almost all products now.The four P’s (Product, Price, Place and Promotion) of marketing play a crucial role in any business and vending is no exception to this. After you have decided on which business to take up, the next and most important step would be to do some initial ground work for deciding the product to be vended. After selecting the product, you need to price it in such a way that you have an advantage over your competitors. Now comes the turn of location, yes, location is very important because it determines the volume of the business. If the product you have chosen is targeted at kids, then you should locate your business in such a place which is highly accessible for kids.
Several factors need to be taken into consideration while choosing the most appropriate location. Few of them have been mentioned below:
• Visibility: Is your machine easy to locate or is it located in a corner. A clearly visible machine will automatically attract customers to it.
• Customer flow: If the product you are offering is targeted at kids, then you should place it in such a place where number of kids visiting is very high.
• Proximity: Reach or proximity is also important for generating higher revenues. There is no use in placing a candy vending machine that is far away from children play area.
• Competition: You should also find out if similar machines already exist in that area. If so, is there a need to install another machine.
• Target market: Whom are you targeting at? Children, Middle age, teenagers or old people. Based on your target customer, your vending machine needs to be designed. If you are concentrating on children, then try to make your machine attractive by using graphics, flashy lights or animated characters. This will help in grabbing their attention.
Choosing Planet Antares machines can be the right decision for you as you can easily get what you want as far as machines are concerned. Planet Antares offers wide variety of vending machines which will suit your requirements, be it style design or robustness.
Labels: planet antares, planet antares vending
posted by Larry Bunker @ 1:40 PM
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