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Business Studies: Unit 1 coursework"What type of business might be successful in Marlow?" Introduction We were set the task of asking the public their views and opinions on the range of businesses

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Introduction

Business Studies: Unit 1 coursework "What type of business might be successful in Marlow?" Introduction We were set the task of asking the public their views and opinions on the range of businesses, shops and services in Marlow and what they feel the town is missing Methodology I worked in a group of 3 people and we asked 30 people their views on the businesses in Marlow. We put together a questionnaire including whether or not they live in Marlow, their age bracket, views on prices, services, any limitations on services available and what business they think Marlow is missing which will benefit both them and the town. Using the information they supplied, we then categorised their opinion e.g. one person said Dixons so we adapted it to electronics shop. To make this accurate market research, we went into the town at different times of day and approached different types of people, men, women, children, old people et cetera to see if the peoples opinions change depending on who is in the town at certain times, however the results tended to be the same. ...read more.

Middle

Price The price will vary as there will be a wide range of products available, however at the beginning of each season for certain sports ie football and rugby there will be a demand for the likes of boots and shin pads, head guards and gum shields, so a spend like this could result in about �50-100 per customer. During the season there will still be big buys but not as frequent, however that is the time when team merchandise and clothes are purchased. Frequency of purchase The frequency of purchase for the more expensive items like football boots will not occur often, maybe every six months, however people will always be buying trainers and clothes and these sales will occur 10 times a day. The shop will always have customers however during the months of October and November the trade will slow down, but increase again during the Christmas rush. Promotion To promote the business there would be the company logo on the bags, so when one customer has purchased an item, they will be carrying a bag with the stores name on it, and other people will see this and be inclined to visit the shop. ...read more.

Conclusion

The shop would not specialise in just one area of its field, like its competition in Marlow, but in all aspects of sport. Also it is a convenience for the residents who often require sporting goods. I predict that sales per week will reach the �20000-40000 bracket and I predict the profit to be around the �25000-30000 mark. Conclusion I believe that this business has the potential to go ahead and succeed because, as I mentioned, there is an apparent niche for such a business. Marlow is an area lacking in such businesses and I personally think that Marlow would thrive with a new shop. This would attract people from 10-45 as that is the average age bracket for people who still get involved in sport so will need sporting products. One problem which may arise is Marlow is not traditionally a town where people go to shop, however, it is a town popular with teenagers, and most teenagers do sport, and the shop will be aimed more at the residents anyway. ?? ?? ?? ?? Billy Evans ...read more.

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