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Temperature-sensitive vending machines are not a novelty. Initially, such an option was offered by the Coca-Cola Company. However, the focus was made on charging more for cold drinks in hot weather. Even though this initiative was not fruitful, as ordinary consumers felt that they were exploited financially, I am strongly inclined to believe that offering hotter beverages when it is cold outside might be a successful strategy in case of keeping in mind particular conditions. First of all, it is essential to recognize that temperature-sensitive vending machines are synonymous with price discrimination. That is why it is critical to point to benefits they provide. That said, implementing this step requires conducting a promotion strategy, which would point to the fact that higher prices are seasonal and would decrease when it gets warmer outside. In addition, it is vital to highlight that location of vending machines is as well of significant importance. For example, setting them up in malls or other places with numerous alternatives would not be beneficial because consumers are less likely to spend more, especially in case of proximity to convenience stores offering substitutable products. Instead, locating them on streets or in places with no competitors would turn a marketing decision into an efficient one. Finally, it is critical to choose the strategy of selective launch, i.e. set up only several vending machines in order to find out whether ordinary consumers are interested in this initiative. To sum up, in my opinion, installing temperature-sensitive machines in crowded places without a significant amount of substitutes such as convenience stores and launching a well-developed promotion campaign is a way to make benefit of this novelty and turn it into a marketing success.
Acquiring a franchise offers numerous advantages to those, who sign contracts with franchisors. For instance, the necessity for promoting an offered product or service is eliminated because of a well-known name of a chosen brand. This benefit is closely related to lower risks of business failure due to an overall recognition of a brand and already occupied market share it offers to a franchisee. At the same time, franchisors usually provide adequate training so that there is no need for past professional experience or expending funds on learning. Furthermore, relations with financial institutions such as banks and suppliers are easier to establish due to cooperation with big business. Finally, owning a franchise is a guarantee of exquisite rights in a particular territory. Nevertheless, there are some significant drawbacks of acquiring one. For example, in some cases, it is impossible to develop a thorough plan, incorporating all expenses. So, costs might be higher than expected, which imposes high risks of failure. More than that, due to a robust connection with a franchisor, any negative developments in its operations might have a deteriorating impact on a franchisee. Finally, franchises are inflexible and forecasting market needs, especially in case of different level of economic development in countries of a franchisor and franchisee, is complicated, which might as well lead to business failure.
Still, there are some products, which offer higher chances of becoming successful. For instance, recall Starbucks, a network of coffee stores known worldwide. As for now, branded coffee shops operate in around 70 countries around the globe. That is why acquiring a franchise in a new territory might be an economically viable decision. Nonetheless, it is crucial to keep in mind relations between franchisor and franchisee and remember of the necessity to follow established rules as well as find ways to meet determined standards of quality. In other words, even though a franchisor offers the same goods, it is limited in making global business decisions due to the necessity to correspond to an established business model.
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