Test marketing is a crucial stage when are launching a new product/service or even a venture. It is all about gauging market response to your offering. If you are a small business owner who is looking to break in to the market then testing the waters need not cost a bomb. Try pop-up retail at the test marketing stage.
Here are 4 easy and inexpensive ways in which you can use pop-ups to determine whether or not you have a cash cow in the making…
Yes…setting up a table gives you just enough room to display a limited variety of your wares. Hiring table space at exhibitions and even flea markets is easy and inexpensive. This method is gaining popularity even in urban areas with malls trying to give local businesses a platform to display their wares. People have even made the activity of letting out table space to aspiring entrepreneurs in to a business.
Looking for table space? Look up the yellow pages and newspapers to zero in on ventures that are in the business of conducting exhibitions.
Every once in a while you will find a kiosk springing up here and there. The sheer flexibility of these temporary stalls/kiosks is that you can set it up in different parts of the city at different times. That way you can gain visibility among different types of customers.
For instance a kiosk in a shopping area in the morning means footfalls at peak shopping hours, outside a commercial complex at lunch time brings office goers on their break calling and the same kiosk outside say a movie theatre in the evening will all attract different sets of people across the city. All in a day’s work!
Local Fairs or Village Markets
Every city/town has its share of local fairs and every village has its market day. Such occasions are the best way to make your presence felt simply because of the sheer number of people who come out there and check out what’s on offer.
It is also a great opportunity to observe buying habits, competitor behavior, products and strategies while soaking in the color and bonhomie among the local people. A great way to do business and have fun while you’re at it!
Exhibiting your wares at different places during the week or month will help you reach out to different people in different places. You could start with your own premises then head out to a friend’s home/lawn/terrace space and then the local fair…all in the span of a few days.
A brand with wheels offers convenience and people do look forward to sellers who wheel products in to their homes. You need little more than your own bike or car to breeze through the city while test the waters.
Apart from the ease with which pop-ups let you test the waters they also give business owners the flexibility of working by simply hiring space for a few hours/days. This means huge savings on the cost of real estate, rent, fixed and working capital expenditure.
So go ahead…take the pop-up route to test marketing and watch your business grow.