One of the most important steps of launching a successful product release is choosing the location where you will sell your products. "Place," one of the 4 Ps of marketing, is key to converting sales. The ideal location for selling your products is a place where members of your target market frequent and come prepared to buy. Five quick steps will help you make the final decision on where to sell your goods.
Step 1. Identify your target market first and foremost. This is the group of people you believe will be most likely to need or strongly desire your product. If you're unsure, you can determine the target market by performing market research on companies similar to your own.
Step 2. List places where members of your target market frequent. For instance, if your target market is teenage girls, possible places include the mall, movies or the beauty section of the local pharmacy. Investigate whether these people come to these locations with money or motivated to make a purchase. List as many potential locations as possible.
Step 3. Decide on the specific area (or areas) that you want to target with your new product. Narrow it down to a town or city based on information about your chosen target market. You can use an online demographics reporting service like ZipSkinny to find areas densely populated with members of your target market.
Step 4. List the cities or towns you want to target alongside the types of places where you could potentially sell to your targeted customer (such as local malls). Match the places to the cities and start developing a list of the specific businesses and locations where you want to sell to your customers so that you can contact each place to ask about retail opportunities. For instance, if you decide to sell in local mall A in Anytown, Michigan you might list and contact the mall management office there to ask about the cost of renting a kiosk to sell your products to customers.
Step 5. Write down a short marketing plan describing how you plan to reach customers in each of the specific places you identified in the previous two steps along with cost considerations and other details. Narrow down the list based on the options that best fit your budget and other requirements. Finalize distribution or rental agreements to service customers in the places you've chosen.
Parker Williams is a small business expert and Internet marketer and one of the founders of Start Up a Small Business -- a website that teaches newbie entrepreneurs how to start up a business step by step.
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