Role of Product Selection in Vending Business

The 4P’s of marketing mix emphasise the importance given to product in any business. Selection of right product is as important as the selection of the machine. In fact the choice of product vended influences the success of your business. We often keep taking about product mix. What exactly is this product mix and how does it affect a business? Product mix is the sum total of all the product items and its variants offered by an organisation. An appropriate product mix will not only keep your customers satisfied but also encourage them in repeat purchasing.

In case you are a new entrant in to vending business, then start with products that have consistent demand and that are least effected by fluctuating markets. For instance: Snacks and food items are in constant demand. Operators must make sure that they offer these products in order to have continuous sales and maximise profits over a period of time.

Another thing which operators need to consider while dispensing products is availability of supplier. This is very important because a supplier located in a nearby area would avoid delay in transporting products and thus save a lot of time and effort. Modern customers are willing to spend slightly higher amount but do not want to compromise on the quality. Hence, operator needs to check on a regular basis if the products provided by suppliers are fresh and have not crossed their expiry dates. If any customer comes across a product that has crossed its expiry period, it will create bad reputation and he will not revisit your vending machine again. This will lead to spread of negative image in the market and thus affect your business.

Selection of product is also influenced by your target audience. For instance: in case you are targeting children, try to offer products that can grab their attention easily like video games, toys etc. Understanding customer needs is key to a successful vending business. So, make sure you know your customer needs and requirements. This is possible either by asking them using questionnaires or by conducting a small market survey.

Location of your vending machine will also play an important role in deciding the products. Planet Antares experts have data pertaining to number of locations and can guide you with the choice of products. Also taking into consideration, the national demand for products they can assist you in choosing the right mix of your products. Planet Antares since 1987, is engaged in providing modern vending machines to customers across US and Canada.