Applying the 4 P’s of Marketing in Setting Up a Computer Rental Business
These days, when economy is down and the future seems to be unclear, you have to do everything right in order to make things work your way. Having your own business is risky. But if you have the capacity to be able to grow such venture, then go ahead and try your luck. One of the most popular choices for young entrepreneurs these days is a computer rental business.
Setting up is an easy task especially if you are determined to succeed with your project. You may want to start looking at the following. These are the four P’s of marketing that you can apply on your business.
1. Product. Before you even start, you must take note of how are you going to be able to convince people to try you out. What’s different about what you are offering to people that they will find so hard to resist? By answering such important question, you will be able to set your business apart from your contemporaries. And this will set you up in a competitive mode. This way, whatever you decide in the process is a result of your confidence that you can make it and your business will grow and succeed.
2. Price. You have to do your own research as to how much your competitors charge for their services. You must play with those rates. You cannot give a very low rate just so you can convince people that you are the better choice. This may backfire on you in the long run and may even result for you to close down. And you cannot also offer prices that are too high. You can’t expect people to choose you if you in this light no matter how upgraded your PC’s are or even if you have all the latest about the technology that you are offering to people. If they can find similar attributes on other companies without costing them too much, of course, they will prefer the services of those companies.
3. Place. In setting up your business, it will be best if you are going to study the location where you are going to place your own. You have to know first who your target market is. After knowing the needed information about the matter, you have to find out where they are. Place your business where your target market will see you. If not for these people, you will not succeed with your venture. You have to make them realize that you exist. You have to follow their lead.
You must also consider the competition. You cannot set up your business where there are so many the same businesses catering to the target market that you also want to serve. You may not be able to thrive well on such environment because people will trust those businesses who have been there longer, not unless you will be able to come up with a super genius idea that will make your competitors’ loyal clients turn their heads your way.
4. Promotion. After everything has been taken care of, you must make sure that the public is aware that your computer rental business is open and ready to serve them. You can achieve this by promoting what you have set up. This can be done at minimal costs by choosing print ads. You just have to make sure that such ads will get into the hands of the people whom you want to be your clients.