Marketing Idea No. 190 – Location, location location

You may not have an earth-shattering product or something new to offer. But heres something you can do to sell more products. Find a great location.

In real estate, the wisdom of locational advantage is THE truth to stand by. But the same strategy can be applied to any business category. Especially since, whether you like it or not, your budget is limited.

How does it work? If you have a limited amount of money and not a great product idea, just spend the money on finding a great location. The sameness of your product will matter little if you can choose a location that can work for you. In fact, if you are really shrewd, you can even charge more for the same product if you choose your location wisely.

The coffee shop in Waterloo station in London will sell more coffee at higher price than anywhere else. Why? Because it has a great location.  Because of the location the next coffee shop is nowhere near…which guarantees the early morning rush of office goers couldnt care less for the extra 10p they are paying for the coffee.

The same way it makes sense to have a cake shop near Dhaka university. They are always celebrating something….where would they find good cake nearby? Same way its a great idea to have a supershop in Old Dhaka, a Kebab shop in Badda or a Pizza Hut outlet in Shylet.

So if you lack a great product or business idea, simply find a great location. Even if you have to pay more to acquire that location, go for it.

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1 Comment

  1. Pingback: Your Publicity To You » Blog Archive » Marketing Idea No. 190 - Location, location location « Creating …

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