GSB08: How to Merchandise Your Gas Station Business in a Unique Way to Attract Customers | Part 3 of 6P's of Marketing Mix Series 100

Gas Station Business 101 Podcast - How to Start, Run and Grow a Successful Gas Station Business

In this Episode, I discuss the 4th 'P' of the marketing mix -Product which in our business is merchandise. There no "one size fits all" in this business. You have to differentiate your store/business from the next store to stand out in the crowd. Product selection is the differentiator that can make you a successful as oppose to a not so good product selection can tank your business to the ground.

There are 4 very important things you need to find out about your store, about your customer base and the demographics of your store first, before you can decide what and how to merchandise your business with the right products.

1. Median income level of your customer base

2. Race and ethnicity of the customer base

3. Age of the population or your customer base

4. Location of your store

I also discuss how to calculate your store's sales per square feet monthly and how to increase and track that number.

The book I mentioned in this episode is The 7 Habits of Highly Effective People: Powerful Lessons in Personal Change, This best-selling book is by Stephen R Covey. It is a book about personal change and growth. This book goes deep into how we can have a paradigm shift first in order to be able to accept and welcome those seven great habits.