I come across a street toy seller…. Yes, there is so many toy street sellers… But this guy is something special that made me to stand & watch his toy selling marketing approach. These are my take-aways from him.
Target Location: This Toy seller sits before the well known childrens hospital. This is Pull marketing strategy. Customer will reach him naturally.
Targeting Discussion Making Unit
- Initiators – Display of vareity of toys naturally/impulsively attracts the initators
- Influencers – The Initiators easily persuade the buyers. Influencers does the marketer job by emotionally persuade the Initiators
- Buyer – Influence to Buyers conversion will be 99%.
Timing : This person opened displayed this stuff during high visitors time of hospital (Out Patient Visiting time)
Product Offered: More option of toys variance to choose from. By doing so, the probability to Sale Conversion is more
Pricing: Flat/Same Price for all variety of toys. Pyschological pricing strategy. This approach is used when the marketer wants the consumer to respond on an emotional, rather than rational basis.
Promotion : Zero percent promotional effort required
Upselling – Because of variety of toys, the probability of upselling is more