Vending Tips from Planet Antares

We all are famous with the four “P’s” of marketing also know as marketing mix. These four P’s are nothing but product, price, place and promotion. Each of these is significant and plays a vital role in the success of vending business. Every vending operator needs to understand their importance and place their prime focus on them. This is the best and most simple way of becoming successful in vending business.

Let us look in detail as to how each of these factors influences the success of a vending business.

• Product: There are several products available in the market. There choice however depends on your target audience and location. For instance: If you have targeted children, you can choose to vend toys, chocolates, ice creams, pop corns, games, snacks, food items etc. The choice of this product would in turn depend on where you would like to locate the machine. In case you are looking to place the machine near a park, you can dispense pop corn, ice cream or toys.

• Price: Pricing is also crucial for success of any business. The choice of your machine is greatly influenced by your investment ability. You have several vending machines available in the market ranging from few hundred dollars to several thousands of dollars. The price of this vending machine depends on the model and features it includes. Smaller machines like candy and gumball cost you less in comparison with machines that come with sound and display systems.

• Place: Place or location is also very crucial for your vending business. Placing the right kind of machine in right location can give you guaranteed returns. Finding strategic locations for placing vending machines is not as easy as it may sound. It is only with thorough market research, that you will be able to identify the right location.

• Promotion: This depends on the kind of product you would like to dispense. In case you are dispensing branded products, you do not need to undertake additional promotional activities. However, if you are vending unbranded items, you can go for paper ads or try coupons and similar activities for boosting your sales.