A STUDY ON VENDING MACHINE RETAIL SERVICE

PRODUCT AND BRAND STRATEGY

21MS3082
II MBA (MARKETING)

TERM PROJECT

Submitted to,
Dr. J. Clement Sudhahar
Professor & Head of Department

Submitted by,
Ch Jupiter
Reg No: PRK21MS1047

Department of Management studies

Karunya Institute of Technology and Sciences
[Declared as a Deemed University under sec.3 of the UGC Act, 1956]
AICTE Approved & NAAC Accredited
Feb 2023
Contents
1. INTRODUCTION:.........................................................................................5
2. OBJECTIVE OF THE STUDY:...................................................................6
3. BACKGROUND INFORMATION: VENDING MACHINE MARKET: 6
3.1 Product Types Insight:............................................................................7
3.2 Payment Type Insight:.............................................................................7
3.3 Regional Insight:......................................................................................8
3.4 Key Companies:.......................................................................................8
4. NEW SERVICE:.............................................................................................9
4.1 Vending Machine Types:.......................................................................10
4.2 Vending Machine Service in school and colleges:...............................11
4.3 Micro-Market Vending:........................................................................12
5. NEW SERVICE DEVELOPED:.................................................................13
5.1 Design for Reliability:............................................................................14
5.2 Design for sustainability:.......................................................................14
5.3 Design for service:..................................................................................14
5.4 Design for X factor:................................................................................14
5.5 Advantage:..............................................................................................15
5.6 Disadvantages:........................................................................................15
6. STEPS/PROCESS FOLLOWED:...............................................................16
7. TECHNIQUE FOLLOWED:......................................................................18
7.1 New Service Strategies:..............................................................................18
7.2 Creates better consumer value than the competition:........................19
7.3 Winning service on certain dimension:................................................20
7.4 Market segmentation:............................................................................20
7.5 Technique:..............................................................................................22
7.6 Marketing Strategy:...............................................................................23
8. BRAND BUILDING MEASURES..............................................................24
8.1 Identify Your Audience:........................................................................24
8.2 Develop Your Brand Position:..............................................................25
8.3 Pick a Business Name:...........................................................................25
 8.4 Outline Your Brand’s Story:.................................................................25
9. BRANDING GUIDELINES........................................................................26
10. PROJECTION............................................................................................27
10.1 Market Driving Factors:......................................................................27
10.2 Key Market Opportunities:.................................................................27
10.3 Segmental Analysis:.............................................................................28
10.4 On the Basis of Application:................................................................28
11. CONCLUSION...........................................................................................28
 ABSTRACT

The product Vending machine is an automated machine that dispenses products such as
snacks, beverages, etc. to consumers based on cash or cashless transactions (online payment).
Different products can be stacked in each tray of the vending machine. Modern vending
machine manufacturing industries have developed different types of vending machines which
can keep ready-to-eat fast food items, for example, burgers, biryani, fried chicken, and many
more. Saving time and using less human energy is essential. By installing vending machines,
we do save capital and a lot of space, easier for the buyer to access 24/7, and product
available. Here, we will be finding various top vending machine manufacturing companies
and joint venturing with the selected company. We will be developing new service strategies
to provide the vending machines and also select the target market, market segmentation, and
sales promotion will be carried out. We will be focusing on the direct sales of the product by
providing good after-sales service. To expand these services, we will find the right partner
which whom we can collaborate. Selection of the product which can be sold through the
machine will be classified. As we know developed countries have already
implemented/installed thousands of vending machines all over the place, starting in schools,
colleges, corporate places, public places, and more. It became very convenient for the seller
as well as the buyer to access the service with ease. For the first stage of the project, we will.

Shortly, cashless transaction methods can include Paytm, Debit card/Credit card transactions,
etc. The display used here is an LCD; there can be future improvements by replacing the
LCD with a touchscreen display. Android apps can also be used for transactions. Voice
recognition technology can also prove to be a big breakthrough in the field of vending
machines. Our goal is to solve the public crowding issues in places.
 1. INTRODUCTION:

Consumers head to vending machines for a variety of reasons. Most machines exist to satisfy
public cravings for snacks and beverages. Vending machines offer consumers a quick
convenient fix for hunger pangs or sluggish activity by offering energy-boosting
refreshments. The scope of the use and demand for vending machines is widening as
advancements in machine technology improves. Vending operations offer an entrepreneurial
opportunity that can be quite lucrative to operators willing to put in the time and effort to be
profitable. Vending machines are coin-operated devices that dispense goods to consumers.
Consumers use vending machines by paying for the goods within the machine and utilizing
the items dispensed. Machine operators earn money by placing machines in private
businesses or public areas to compel customers to make a purchase. Operators have
established routes in which their machines are located and it is their job to service the
machines to ensure they are stocked with the appropriate goods. Many business opportunities
exist for vending machine operators. Entrepreneurs can opt to purchase an existing vending
business, which usually includes the necessary licenses, machines, and routes that have
already been established. Business owners can also invest in a franchise, or start a new
business from scratch. Purchasing an existing business requires that the operator maintains
current accounts by services and stocking the machines with an inventory. Entrepreneurs that
choose to open a new business must purchase or lease their machines, purchase inventory,
and obtain licenses and accounts for placing the machines.

Common machines are snack and soda machines. Smaller devices dispense individual
candies or assorted nuts. Many machines are popular in establishments that cater to families
and children. These types of machines have prizes and goods that appeal to a younger crowd.
Vending machines that dispense films available for rent are increasing in popularity. Vending
machines that are appropriate for a certain niche are also available. several developments
have been made in the technology of vending machines, allowing operators to offer more
convenience to consumers. In the past, vending machines were limited to accepting coins or
small forms of currency. As vending machine technology improves, the forms of payments
accepted have also improved. Some vending machines now have the option of accepting
credit and debit cards as an added convenience to customers.
 2. OBJECTIVE OF THE STUDY:

 To understand how vending machines bring convenience to both consumers and

investors.
 To understand how vending machine helps provide quick and proactive service to
consumers during any purchase.
 To understand how vending machines can be used to reduce wastage of time and save
time.
 To understand how vending machines can be used to minimize operating costs.

3. BACKGROUND INFORMATION: VENDING MACHINE

MARKET:

The global retail vending machine market size was valued at USD 51.91 billion in 2021 and
is expected to register a compound annual growth rate (CAGR) of 10.7% from 2022 to 2030.
Increasing demand for on-the-go snacks and beverages due to the hectic lifestyles of
consumers is boosting product sales through vending machines. The industry growth can also
be attributed to the ability of these machines to deliver goods quickly, making it an extremely
convenient option for consumers. From offices to high-end restaurants and crowded bars to
public places, accessing food & beverage items is made simple with a vending machine. This,
in turn, is likely to drive their demand.

The coronavirus pandemic has unfavorably influenced the consumer goods industry with
lockdowns having an impact across the supply chain. The impact on food and beverage
companies will likely be complex, influencing both the demand and supply. In contrast, a
change in consumer behavior has been observed, generating demand for various consumer
goods, wherein several consumers have switched between brands. Simultaneously,
manufacturers are deciding on how to handle potential disruption across the supply chain and
are identifying areas to improve and meet consumer demand. Vending machine operators
have witnessed the impact and a fall in revenue, especially in April 2020 as compared to
2019.

Sales through vending machines look promising as vending machines not just offer snacks
and beverages but can also sell other consumables, such as cigarettes and lottery tickets.
Hence, operators can generate significant revenue through these devices by strategically
placing them in corporate buildings, schools, malls, train stations, and airports, among others.
For instance, in August 2019, it was announced that over 1 million plastic bottles had been
recycled through reverse vending machines in Iceland stores. The healthy lifestyle trend is
becoming increasingly prominent across the globe on account of growing consumer
awareness regarding healthy food and beverage options.

3.1 Product Types Insight:

The beverage retail vending machine segment dominated the industry in 2021 and accounted
for the maximum share of more than 43.00% of the global revenue. The high demand for
coffee and energy drinks across various sectors is driving the growth of this segment.
Beverage vending machines not only consist of coffee, tea, or cocoa, but also have diet soda,
energy drinks, lemonade, flavored drinks, vitamin water, and water bottles. Beverage vending
machines are immensely popular in hotels for guests who prefer a beverage or a small snack
instead of a full meal. Vending machines are often placed in the lobby of a hotel to generate
continuous revenue.

Shaving creams, deodorants, and makeup removers are among the products available in
beauty & personal care vending machines. These vending machines are commonly installed
in shopping malls, spas, barber shops, and airports in major cities. They are also an
alternative for customers who normally shop online for luxury beauty and skincare products.
Increasing footfall in spas, airports, and shopping malls is expected to fuel the demand for
beauty and personal care retail vending machines.

3.2 Payment Type Insight:

According to a report published by Mercator Advisory Group, only one-third of vending
machines accepted cashless payments over the majority of the last decade. Also, retail
vending machines available in rural regions prefer cash rather than cashless modes of
payment. The cashless payment provides various advantages for both customers and
companies, making it more than simply a commodity.

Advantages, such as less cash handling losses, saving extra cost and labor time, and speed &
efficiency in the transaction, are expected to drive cashless payment modes. Also, people
prefer the cashless or contactless method as it is considered to be a more hygienic way to
make payments. For instance, according to a survey by MasterCard in April 2020, 82% of
respondents worldwide said they preferred contactless and cashless payments as a cleaner
way to pay.

3.3 Regional Insight:

Based on geographies, the global industry has been further categorized into North America,
Asia Pacific, Middle East & Africa, Europe, and Central & South America. North America
dominated the global industry in 2021 and accounted for the highest share of more than
30.7% of the overall revenue. The rise of self-service technology in this region has created
new business avenues for retail vending machines. Therefore, several retail vending machine
operators are focusing on launching their businesses in strategic locations across the region.
Asia Pacific, on the other hand, is anticipated to register the fastest growth rate during the
forecast period. The region’s growth can be mainly attributed to the high product penetration
in major countries, such as Japan and Singapore, due to the rising population. Developing
economies in the Asia Pacific region, such as India and China, also present strong growth
potential for the industry.

3.4 Key Companies:

Azkoyen Group
Westomatic Vending Services Limited

Royal Vendors, Inc.

R.S. Hughes Co., Inc.

Fuji Electric Co., Ltd.

4. NEW SERVICE:

“BLUE SKY VENDING MACHINE SERVICE” provide vending machines for companies
and businesses of all different sizes and types. Generally, vending machine services can
provide various types of vending machines including coffee, snacks, soda pop machines, ice
cream, and of course, your favorite, gumball machines. Over the years, vending machine
services have transitioned from traditional snack and pop machine vending to newer, micro
market services. Different vending machine service providers offer different forms of
contracts with customers, which leads me to the topic of, full-service vending. Full-service
vending companies deliver, install, service, maintain and stock the machines, all at no cost to
your business. Of course, the full-service vending company collects the money and that is
how they make money! Full vending services are a popular route for businesses in search of
vending service providers; since it requires no work on their end. Vending makes sure to do
everything in our control to ensure a smooth transition for you. Our route drivers are clean
and quiet when they fill and maintain our vending machines so that your team can continue to
work without being disturbed.

As a full-service vending provider, we offer a slew of vending services including office

coffee, snack machines, soda machines, ice cream, candy, and many other options. We have
solutions for you no matter how big or small your business is. Vending provides vending for
24/7 facilities, such as hospitals and nursing facilities, as well as, corporate offices and
businesses of all sizes. Grab a coffee and relax while we handle the break room. With close to
20 years of providing excellent break room vending options, we can turn small and large
spaces into pleasant self-service and automated vending areas. Automatic vending sounds
fancy- and it can be but it doesn’t have to be. Instead of someone else preparing and serving
your snack or drink, an automatic vending machine automatically dispenses the snack or
beverage. Just like most things, automatic vending started off rather simple. The vending
machines began with inserting change into a machine and turning a dial to open a flap. Then
they evolved into super complex refrigerated machines with elevator lift capabilities,
accepting all forms of payment, including apple pay, credit cards, cash, and other various
forms of payment as well. In addition to automated vending, vending company also offers
self-service kiosks known as micro markets. Depending on the space available, these can be
quite the dream for break room vending. Micro markets offer many more options, including
fresh and healthy options too! Fill out the contact form to schedule a location survey in order
to determine the best vending options for your team and space.

4.1 Vending Machine Types:

Different vending machine services work in different ways. Different vending services
structure contracts in different ways. Vending is largely focused on customer service and
making the whole process as seamless and simple as can be. This is why we only offer full
vending services, delivery, installation, and maintenance, along with a high level of customer
support for your team members, should any issues come up. We understand what it is like to
run a business and that is why it is crucial for us to make sure that you and your team are
happy, satisfied, and of course productive.
4.2 Vending Machine Service in school and colleges:

Vending services for schools and universities generally refer to snack and drink vending.
Automated vending machines are placed at your qualifying school location at absolutely no
cost to your school or business. As a full-service vending company we install, service,
maintain, and of course, provide all vending equipment needed for smooth and safe vending.
We fill and collect from all the machines so you don’t have to worry about anything. Our
goal is to keep your staff and students happy, satisfied, and productive.

In addition to offering a diverse selection of vending options, we also prioritize healthy and
nutritious choices. We understand the importance of providing students with access to
nourishing food and drink options, and we strive to offer various healthy options alongside
traditional vending fare.

Vending, we are committed to sustainability and reducing our environmental impact. All our
vending machines are energy efficient, and we have implemented recycling programs at all
locations. We believe in not only meeting the needs of our customers but also in doing our
part to protect the planet.

We are confident that our commitment to quality, variety, and sustainability makes us the
best choice for your vending machine services. If you are an educational institution in Illinois
in need of vending services, we welcome you to join the vending family and look forward to
serving your needs.
Vending services for schools and universities generally refer to snack and drink vending.
Automated vending machines are placed at your qualifying school location at absolutely no
cost to your school or business. As a full-service vending company we install, service,
maintain, and of course, provide all vending equipment needed for smooth and safe vending.
We fill and collect from all the machines so you don’t have to worry about anything. Our
goal is to keep your staff and students happy, satisfied, and productive.

Vending services for schools and universities can be convenient and hassle-free to provide
students and staff quick access to a wide range of snacks, drinks, and other consumables.
Vending services include installing, maintaining, and restocking automated vending
machines at your qualifying school or university location at no cost.

As a full-service vending company, we handle everything from the initial installation of the
machines to ongoing maintenance and restocking. Our team of trained technicians is
dedicated to ensuring that your vending machines are in top working order, and we take care
of all the filling and collecting, so you don’t have to worry about anything.

In addition to offering a wide variety of snack and drink options, we also prioritize healthy
and nutritious choices. We understand the importance of providing students with access to
nourishing food and drink options, and we strive to offer a range of healthy options alongside
traditional vending fare.

Vending, we aim to keep your staff and students happy, satisfied, and productive by
providing various vending options that cater to their needs and preferences. Contact us today
to learn more about how we can serve your school or university’s vending needs.

4.3 Micro-Market Vending:

Micro markets are becoming more popular amongst many closed-door locations. Schools and
universities that have student and staff rooms only, or school libraries open to students and
staff only can be an excellent fit for micro-market vending services. Micro-markets offer
students and staff more choices and the freedom to really see what’s available, read
ingredients, and have the classy feel of a manned canteen or minimarket while being entirely
automated. If you’re interested in canteen vending services, micro-markets are a wonderful
option.

Micro markets are an increasingly popular alternative to traditional vending services for
closed-door locations such as schools and universities. These self-service kiosks offer a more
comprehensive selection of snacks, drinks, and other consumables, allowing students and
staff to browse the options and make informed choices about what they want to purchase.

Micro markets are a particularly good fit for schools and universities with student and staff
rooms or libraries open only to students and staff. They offer the convenience and freedom of
a self-service market, with the added benefit of being entirely automated. This means that you
don’t have to worry about staffing the kiosk or restocking it, as it is all taken care of by the
micro market system.

Micro markets are an excellent option if you are interested in canteen vending services for
your school or university. They provide students and staff with a broader range of choices
and the convenience and flexibility of self-service. Contact Bottoms Up Vending today to
learn more about how we can help you implement micro markets at your educational
institution.

5. NEW SERVICE DEVELOPED:

As we have practical experience with the delay in ordering food from the Canteen at

our university. Placing Vending Machine is the perfect solution in order to solve the problem.

We specifically chose Biriyani as the main product as it is the most ordered item, which will

be delivered through the Vending Machine strategically placed on the campus. These will

help solve the problem and be very convenient for all.

5.1 Design for Reliability:
 24/7 Service
 Cash and Cashless
 Contract with FMGC supplier
 Contract with fast food restaurant
 Connect with colleges, schools, and universities

5.2 Design for sustainability:

 Recyclable Packaging material.
 40% less electricity Consumption.
 Energy-rated Machine, which will deactivate the motors if it’s not used for more then
an hour.
 Use energy-efficient light, mostly LED.
 Minimal Machine Noise.

5.3 Design for service:

 24/7 consumer support.
 Stock availability Indication.
 Online payment option.
 Fast delivery within 5 min.
 Feedback Options.

5.4 Design for X factor:

 Every served is hot and fresh.
 A free meal coupon for every 5 purchases.
 Attractive packaging.
 Easy to use by all age groups.
 Suitable for corporates, education sectors, and many more.
 Easy Maintenance.
5.5 Advantage:

 Many a time due to delays in service provided students cancel the orders and go
 for less time-consuming menu items, here this issue is solved.
 The vending machine will save the time of the students as well as the cost of
 human labor.
 It is Cost effective in both the long term and short term.
 It also allows the vendors to serve a large number of consumers with quality food.
 Disallowing fraud, scams, and cheating.

5.6 Disadvantages:

 The high initial cost for development.

 Dependence on electricity.
 High maintenance cost.
 May cause mechanical issues.
 6. STEPS/PROCESS FOLLOWED:

Stage 1: Generating the Concept

Stage 2: Concept Screening

Stage 3: Preliminary Design

Stage 4: Design Evaluation and Improvement

Stage 5: Prototyping and Final Design

Stage 6: Developing the Operations Process

Stage 1: Generating the Concept: The ideas about new services can be generated internally or
externally. Internally, the sources can emerge from the sales staff, front office staff, or
specifically the R&D department, whereas the external sources can be the information about
customers’ needs or the actions of the competitors in the market.

The data can be acquired in a structured and formal manner through various data collection
tools like questionnaires and interviews.

Stage 2: Concept Screening: It is not possible to market all concepts or variants of concepts.
The concept screening stage involves understanding and assessing the flow of concepts.
There can be different stages of screening involving different functions.

Usually, there are three sets of criteria for assessing the market positioning of the products, its
operations/technical implications, and finance assessment.

This concept screening stage involves answering the following questions:

 Does the proposed product or service possess an attractive position in the market,
which also matches the marketing strategy of the organization?
 Does the proposed product or service use current resources capabilities, or can help in
developing new capabilities?
 Is it feasible to invest in the proposed product or service, and is the return on
investment satisfactory for this product?
Stage 3: Preliminary Design: The detailed work on the product or service design starts from
this stage. It includes deciding what the product or service would encompass.

Different important information is collected for this, like the elements required to make the
product or service, how these elements have to be arranged to finally make the package (i.e.,
product/service structure), and the exact quantities of each element required to finalize the
package.

Stage 4: Design Evaluation and Improvement: At this stage, attempts are made to improve
the preliminary design before introducing the prototypes/samples in the market. Various
techniques can be used at this point for assessing and improving the preliminary design.

A few techniques are related to finding the total expense incurred and making it cost-
effective. Others are related to finding technical features of the product or service for
improving the total worth.

Most techniques are concerned with step-by-step interrogation to find out what each
component contributes towards its total worth, why things are done in a manner, and how
things can be done differently.

Stage 5: Prototyping and Final Design: Usually, ‘close to final’ designs are ‘prototyped.’
Sometimes, the design activity is also partially carried in the next stage to make an improved
design as a prototype, which can be tested.

It may help in knowing more about the nature of the projected product or service, but usually,
it helps in lowering the risk factor associated with introducing it directly in the market.

For example, computer simulations and clay models of car design are used for product
prototypes. For service prototypes, computer simulations can be used, and these can also be
used in pilot testing of the product/service. Different new products or services or pilots are
tested by the retailers in a few stores to test the reactions of the customers.
Stage 6: Developing the Operations Process: Almost every model of product and service
development works on the assumption that the final stage will help in developing the
operations processes, which will finally help in producing the intended product or service.
However, practically product/service development and process development are inevitably
linked.

However, keeping this step, in the end, does not support the idea that the development
process for designing products and services, as per the market needs, can take place after
deciding on its features.

Only when the operations processes are comfortable with the service design, the process
decisions can be made.

7. TECHNIQUE FOLLOWED:

7.1 New Service Strategies:

New service objectives serve as targets to strive for and points of comparison for

evaluating actual results. New product strategies are the basic approaches chosen in their
pursuit.
7.2 Creates better consumer value than the competition:

People purchase services to improve their lives or business. The more a service can drive the
value equation by improving benefits (both rational and emotional) over price versus the
competition, the more the service will retain customers and attract new customers.

Services that dramatically improve the customer value equation are the foundation for
growth. If a service company is struggling, always start the turnaround with an improved
service strategy.

7.3 Winning service on certain dimension:

 IMPACT

AESTHETHIC SPEED/EFFORT

CONVENIENCE CONSISTENCY

7.4 Market segmentation:

Market segmentation realizes that not all customers have the same interests, purchasing
power, or consumer needs. Instead of catering to all prospective clients broadly, market
segmentation is important because it strives to make a company's marketing endeavors more
strategic and refined. By developing specific plans for specific products with target audiences
in mind, a company can increase its chances of generating sales and being more efficient with
resources.

1) Demographic segmentation
Demographic segmentation is one of the simple, common methods of market segmentation. It
involves breaking the market into customer demographics as age, income, gender, race,
education, or occupation. This market segmentation strategy assumes that individuals with
similar demographics will have similar needs.

 Gender preference will be identified

 Age
 Income
 Occupation

2) Geographic segmentation

Geographic segmentation is technically a subset of demographic segmentation. This approach

groups customers by physical location, assuming that people within a given geographical area
may have similar needs. This strategy is more useful for larger companies seeking to expand
into different branches, offices, or locations.

 Location
 Population Size

3) Psychographic segmentation

Often the most difficult market segmentation approach, psychographic segmentation strives
to classify consumers based on their lifestyle, personality, opinions, and interests. This may
be more difficult to achieve, as these traits may change easily and may not have readily
available objective data. However, this approach may yield the strongest market segment
results as it groups individuals based on intrinsic motivators as opposed to external data
points.

 Personality
 Lifestyle

7.5 Technique:
Phase I: Setting Expectations/Objectives

What is the purpose or goal of performing market segmentation?

What does the company hope to find out by performing marketing segmentation?

Does the company have any expectations on what market segments may exist?

Phase 2: Identify Customer Segments

What segments are the company's competitors selling to?

What publicly available information is relevant and available to our market?

What data do we want to collect, and how can we collect it?

Which of the five types of market segments do we want to segment by?

Phase 3: Evaluate Potential Segments

What risks are there that our data is not representative of the true market segments?

Why should we choose to cater to one type of customer over another?

What is the long-term repercussion of choosing one market segment over another?

What is the company's ideal customer profile, and which segments best overlap with this
"perfect customer"?

Phase 4: Develop Segment Strategy

How can the company test its assumptions on a sample test market?

What defines a successful marketing segment strategy?

How can the company measure whether the strategy is working?

Phase 5: Launch and Monitor

Who are the key stakeholders that can provide feedback after the market segmentation
strategy has been unveiled?
What barriers to execution exist, and how can they be overcome?

How should the launch of the marketing campaign be communicated internally?

7.6 Marketing Strategy:

Our marketing strategy will emphasize the strengths of both our company and our products.
We will position ourselves as an aggressive, innovative company that supplies the market
with new, high-quality products. We will position ourselves in trade shows, within industry
publications, and on the Internet, to reinforce this marketing strategy. Our brochures,
letterhead, and business correspondence will further reinforce these concepts.

We also recognize that it costs six times more to attract a customer than to retain one. To that
end, we will operate under the principle that our best marketing is an exceedingly satisfied
customer. While the industries we operate in are large, reputations play an important part.

 Promotion Strategy

We can participate in sponsored trade shows. We will also attend a number of local and
regional trade shows and distributor open houses to promote our product lines. During the
year we will expand our advertising budget to allow us greater and higher-quality exposure to
trade publications. We are also positioned on the Internet at www.chefvending.com to allow
our company greater exposure and easier communication with our customers.

 Distribution Strategy

Vending will pursue distribution agreements with large regional and national distributors.
Until these agreements are in place, we will sell directly to the operator. We are also pursuing
relationships with nationally-branded companies to supply them with machines for their
products.

 Marketing Programs

We can introduce our machines to important end users and distributors. We followed up with
the contacts through a mailing campaign and follow-up phone calls. We will measure how
many of these contacts we are able to turn into accounts, and track the volume of each of
these accounts.
Another key component of our marketing plan is the relationships we are able to build within
our local marketplace. Everyone involved spends time each day developing and cultivating
relationships with local companies. We will measure our success in two ways. First, we will
track the number of contacts that we turn into customers and the volume of their business.
Secondly, we will track these contacts into the number of machines we will be able to place
in the marketplace and the volume that each location is able to produce.

8. BRAND BUILDING MEASURES

Our brand is its vitality; it's what sets you apart from the competitors, shapes audience
perception, and attracts supporters to your cause. Sadly, a lot of e-commerce business owners
lack the knowledge necessary to create an appealing brand. After all, creating a brand
involves more than just picking the ideal name or design. Creating the ideal brand results
from creation of the ideal brand is the result of numerous interrelated elements intended to
alter consumers' perceptions of your company.

8.1 Identify Your Audience:

Identifying your audience will help you choose a brand voice, design, and even the right
marketing strategy to connect with potential buyers. You can build your knowledge of your
audience by:

 Examining existing customers: Do you have any existing buyers, and what do you
know about them? What is their age range, where do they come from, and what do
they love about your business?
 Looking at your competition: What kind of customers are other companies like you
targeting? Are there any underserved portions of the market you can help with your
products?
 Creating buyer personal: Imagine what your ideal customer might look like, and
create a profile outlining their age, gender, demographics, likes, dislikes, and even
their behaviors (such as how they prefer to shop online).
8.2 Develop Your Brand Position:
Developing a certain depth of knowledge about your target audience will also give you an
insight into your brand position. You can’t be a high-end luxury fashion company and a
budget-friendly business at the same time. You need to decide where you’re going to enter
the market.

The easiest way to do this is to build a positioning statement. This is one or two lines you can
use to help establish who you are and what you’re doing.

8.3 Pick a Business Name:

You know your target audience and how you want to position your brand. Now it’s time to
pick that all-important brand name. This is one of the most important defining features of
your brand. The right name should distil everything your customer needs to know about you
into a single word.

Descriptive names: Titles that describe the business, like “Blue Sky”

Emotive names: Names that inspire emotional responses, like “You One Stop Vending
Solution”

Origin names: The Company name.

Compound names: Titles that combine words, like “Facebook” or “FedEx.”

Initials and acronyms: Easy to remember versions of longer names, like “BSVM”

8.4 Outline Your Brand’s Story:

Your brand’s story is essentially the “why” behind your organization. All businesses need to
have a purpose (beyond simply making money). Think about why you set up a business and
how your products can positively impact people’s lives. The company tells its story on its
website about how it found a new way to serve customers by avoiding conventional channels.
Engaging with customers via direct online channels allowed it to offer good quality eyewear
at a fraction of the going costs.
 9. BRANDING GUIDELINES

Brand guidelines keep your brand consistent and help build trust and authority for your
business. From visual aspects like photography styles and logos to the brand voice and tone
used when speaking on the company’s behalf.

Here’s what to include when creating your brand guide:

 Logo: Acceptable logo usage, including colours, sizes, and variations

 Colours: The brand colours that represent your brand, both the primary and accent
colours.
 Typography: The brand fonts, along with size guides and how they can be used
 Design elements: Shapes, illustrations, and other visual elements that represent your
brand.
 Photography: The style of photos in marketing materials and where to source them.
 Mission statement and values: What your brand is about and why your company
exists.
 Voice and tone: Words and phrases that should/shouldn’t be used when speaking on
behalf of the brand, and the brand voice and tone (compassionate, professional, fun).
 10. PROJECTION

10.1 Market Driving Factors:

 The Rise in Demand for Food Products Due to Busy Lifestyle and Adoption of
Vending Machines to Enhance Shopping Experience.
 Due to their portability and speedy delivery, vending machines are a highly
convenient choice for consumers seeking to purchase food and beverages. In recent
years, the need for readily available food has increased due to consumers' busy
lifestyles, urbanization, and similar consumer behaviors.
 Due to this, the demand for vending machines, particularly in offices, commercial
spaces, and public areas, has accelerated dramatically.
 Non-food products like toiletries, stamps, newspapers, tickets and other small items
can be purchased from vending machines. In addition, as vending machines allow
more digital payment/cashless choices relative to traditional cash payments, the
demand for vending machines has increased.

10.2 Key Market Opportunities:

 More Demand for Vending Machines in the Retail Industry to Boost Market
Opportunities.
 Modern consumers anticipate a convenient and individualized buying experience;
therefore, companies must offer more innovative solutions that extend shopping
outside the typical store site. Wireless solutions facilitate retailers' ability to perform
transactions anywhere.
10.3 Segmental Analysis:

 The global vending machine market is classified based on type, application,

technology, sales channel, and region.
 Based on type, the market segmentation includes food vending machines, beverages
vending machines, tobacco vending machines, etc.
 A beverage vending machine is an electronic device that dispenses various beverages,
including soft drinks, coffee, water, and others. Globally, beverage vending machines
are utilized in various settings, including hotels & restaurants, corporate offices, and
supermarkets.

10.4 On the Basis of Application:

 The market segmentation includes hotels & restaurants, corporate offices, public
places, and others based on application.
 Hotels and restaurants assist manufacturers in introducing various kinds of vending
machines to the market and catering to many consumers.
 The expansion of the vending machine market is anticipated to be fuelled by the rising
popularity of upscale dining and tourism.

11. CONCLUSION

Based on the above feasibility study we conclude that this business does not have any
competitors and the exits alternating are does not the ability to compete with our business
because of its different variety and scope of the business is wide. And also the visibility of
this business is tangible when we see the revenue and total capital of the project. Us we
mentioned in the above this business is initially started using only few vending machines in
only few selected areas like our university. It can be a very good initiative as a startup where
we can excel and control the targeted area for a long period of time. During the growth stage
we could expand the business to other universities and colleges.
 REFFERANCE

 https://looka.com/blog/15-brand-guidelines-examples-to-inspire-your-
brand-guide/
 https://straitsresearch.com/report/vending-machine-market
 https://www.academia.edu/32970869/
Establishment_of_vending_machine_business_Project_Title_Establishin
g_Of_Vending_Machine_Business
 https://www.indeed.com/career-advice/career-development/services-
marketing
 https://www.indeed.com/career-advice/career-development/services-
marketing