2. You are in the process of a major Spring Clean in your home/bedroom/office/garage. You have identified a variety of new and used items that you are no longer using. With summer around the corner you could use a bit more cash for a little vacation. Utilizing what you have learned in this section (marketing) of the class identify and create the following:
A. Item(s) you wish to sell.
B. How will they be sold?
1. What are your options?
2. What are the pro’s and con’s of each?
C. Channel of distribution?
1. Issues to consider - logistics/cost/etc/
D. Pricing structure?
1. How much do you expect to earn?
E. Create a promotion or advertisement to help sell you item(s)?
A. Item(s) you wish to sell:
- Clothes (new and used)
- Electronics (e.g. old phone, gaming console)
- Furniture (e.g. desk, chair)
B. How will they be sold?
1. Online marketplaces (e.g., eBay, Craigslist):
- Pros: Wide reach, potential for quick sales, easy to list items, no upfront costs (in most cases)
- Cons: Competition from other sellers, transaction fees, potential for scams/fraud
2. Local classifieds (e.g., newspaper classifieds, community bulletin boards):
- Pros: Targeted audience, potential for face-to-face sales, no transaction fees
- Cons: Limited reach, less convenience compared to online platforms, need to manage inquiries and meetings
C. Channel of distribution:
- Online marketplaces: Arrange for shipping or local pickup.
- Local classifieds: Meet buyers in person for the exchange.
Some issues to consider when choosing a distribution channel could be:
- Logistics: How will you physically get the items to the buyers? Will you need to arrange shipping, or will you offer local pickup?
- Costs: Are there any fees associated with the platform or distribution method? Will you need to factor in shipping costs?
D. Pricing structure:
1. Determine the market value of similar items by conducting research on the chosen platform.
2. Set a competitive price to attract buyers while considering the condition and demand for the item.
The earnings will vary depending on the pricing and demand for each item.
E. Create a promotion or advertisement to help sell your item(s):
- Take clear and appealing photos of the items.
- Write a detailed description highlighting their features, condition, and any unique selling points.
- Include relevant keywords in the title and description to improve visibility in search results.
- Mention any discounts, special offers, or bundle deals to entice potential buyers.
- Share the listing on social media platforms, online forums, or any relevant community groups to expand reach and visibility.