Back-to-school at UBC brought some surprises for those who’ve been off campus all summer: the opening of Fresh Slice in the Village, the construction at Totem, and the temporary (albeit, likely less temporary than predicted) closure of DLam. But the most exciting change, for me at least, came on a much smaller scale: the addition of a new vending machine dispensing various school supplies on the 3rd floor of Irving.
Why is it that as soon as any non-food product is placed in a vending machine, we are automatically intrigued?
If these same pencils, Post-Its, and paper were housed on their normal shelves in the corner store or Staples, we wouldn’t look twice. However, as soon as they are displayed in a glass box in a low-key location, our interest increases.
Although the product remains the same, the other three elements of the marketing mix for these school supplies changed quite a bit, demonstrating how there are multiple consumer opportunities and markets for companies to tap into:
Price –> Because those likely to purchase out of a library vending machine are doing so because of immediate need, they will be more willing to pay a higher price for the good in question.
Place –> Convenience is the name of the game in this marketing situation. Having the products so close at hand in a public, generally higher-traffic area will spur people to make purchases they would otherwise have to had planned ahead of time.
Promotion –> No promotion needed. Because of the limited array of choices in a vending machine, direct competition is reduced and the utility of the item, not the brand name, becomes more important.