All students of marketing are well versed in the 4P's. I myself have deliberated over them in this blog in a previous post. Now i have a new P to propose- Payment! Now a days, in the consumer world of many options, where neither price nor product are a differentiating factor, Payment is often the differentiating factor. In retail business especially, it is expected the seller accept credit cards. No one likes to carry wards of cash any more when all that can be compressed into a single thin piece of plastic. Online purchases necessarily function on the premises of credit card payments. In such online transactions where the customer has the option of paying at the retail outlet or to a representative who comes to the customer, it is beneficial to the business if it offers the customer the option of payment by card swiping.
A tip for those just starting a business, best to install a few pin pads and credit card swipe terminals. You can check out your options online. Happy payments!
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