A Formal Investigation Into Flea Markets Presentation

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Published on April 6, 2014

Author: N00761046

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A Formal Investigation Into Flea Markets : A Formal Investigation Into Flea Markets Justin Seaman Introduction: Introduction I will be researching different methods of advertising that people use at the Beach Blvd Flea Market to promote the products or services. I was hoping to determine which method of advertising worked the best to benefit the vendors and the products that they sell. Research Questions: Research Questions #1- What sort of visual advertising do you use to get the product noticed? #2- Do you use any sort of online advertising to promote your business? #3- How did you first get introduced to the Flea Market business? #4- Do you use any other methods of advertising to promote your product/business? First Person I Interviewed: First Person I Interviewed #1- I try to put the most popular items at the front of my stand. Also, I use bright and colorful signs to grab the customers attention. #2- No I don’t use any sort of online advertising, but I am looking into expanding to the internet in the near future. #3- I started at an art festival when I was younger. There, I met someone who told me about the Beach Blvd Flea Market. I went and tried it out and ended up making a lot of money. So now I come back every weekend to sell my jewelry. First Person I Interviewed Cont.: First Person I Interviewed Cont. #4- All that I do is wear the jewelry I sell to gain the customers attention. Also, I try to always engage in conversation with the customers that are looking at my jewelry. I tell them that most of my goods are on sale and sometimes I will drop the price so that they will purchase an item. Second Person I Interviewed: Second Person I Interviewed #1-Well my biggest form of visual advertising I use is putting a sign above my store front to attract customers. Most of the time I have my little brother play on some of the electronics and computers I offer so that the customers can see that they work properly. #2- Yes I do use online advertising to promote my goods. I also offer an online store for my customers in case they don’t have a enough money for the goods when they are at the flea market. #3- Well I was first introduced to the Beach Blvd Flea Market, when my father brought my little brother and me here so that he could trade some of his old electronics for some used tables and bookshelves. It seemed to be very crowded and when I got older, I thought it may be a good spot to bring my products. Second Person I Interviewed Cont.: Second Person I Interviewed Cont. #4- I offer deals that I hope will entice customers to buy my products instead of my competitors. For example, if you buy an N-64, I will give you a free controller and two video games for free. Research Findings: Research Findings 1. Jewelry- After I interviewed the jeweler, I spent 15 minutes observing her stand. Demographically, her customers typically consisted of young women (ages 15-30) of various ethnicities. Her bright signs seemed to capture people’s attention, while her colorful jewelry captivated them. However, her method of engaging customers in conversation seemed to work about 50% of the time, as some customers did not seem to want to be bothered. Research Findings (Cont’d): Research Findings (Cont’d) 2. Electronics- While the jeweler had an easier time drawing in customers with her unique designs, the electronics salesman had heavier competition due to the fact that he was selling much of the same products as his competitors. However, the deals that he gave his customers (including the deal where he gave out free items with the purchase of a video game system) proved to be his best sales method. People were drawn to him by his younger brother playing the games. They ended up buying the products because of the deals they received. His online presence seems to be profitable because when people did not have enough cash to buy a product, he gave them his business card so that they could purchase it online. Analysis Of Research Findings: Analysis Of Research Findings It seems that visual advertising at the flea market worked the best to draw in customers. While verbal advertising helped in some cases, the signs, demonstrations and the displaying of the products themselves seemed to attract the most people. Once the vendor had captured their prospect’s attention, he or she used deals and free items to make the sale. These methods seem to be the best ones employed by the vendors of the Beach Blvd Flea Market. Conclusion: Conclusion After all of the research I have done it seems that the most profitable vendors at the Beach Blvd Flea Market are the ones with the most appealing visual signs. Also, those who demonstrated their products seemed to close more deals than those who simply sat there and hoped that their products would sell themselves. This demonstrates that a healthy interaction with customers can make or break a deal at the flea market. Also, lowering prices and giving the customer good deals seemed to make the difference between a customer just browsing and actually buying the product. PowerPoint Presentation: The End!

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