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Business - The 4 P's

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Introduction

Product From the feedback I have received my target group are keen on not just having sports clothing, but equipment and accessories for a wide range of sports, as they commented that they couldn't always find accessories for sports such as Rugby, Cricket and Swimming in stores such as JJB. A huge part of being a successful sport store is knowing how to treat customers. This is essential if you want to gain a customer base which will return and spend money with your repeatedly. All Sports Extra the intention is to make sure any staff is put through extensive training to ensure that they are all customer orientated, and that they know about our products and can answer any question which the customer may throw at them. This will help give us a professional look and a good reputation, but it also helps motivate staff as they know are good at their jobs, and will get satisfaction from helping customers, as it's a local store in some instances they may get to know some of the regular customers well. ...read more.

Middle

From my questionnaire I carried out I found that �45-�65 was the highest chosen answer with 20% of people choosing it, as the amount of m money they spent on average in a sport shop, �25-�45 was close behind with 15% saying that's the amount of money they spend on average in a sport shop, this shows that people are willing to spend a high amount of money on sport related products, and in a vibrant and wealthy area as Muswell Hill I am confident my sales figures will be pleasing. (full list of prices in analysis / research folder) Promotion Another important part of a business's set up is its promotional campaign, to attract and increase awareness. The store will be located on the busy Muswell Hill Broadway and will be clearly visible to passers by. The business is setting up with the intention to provide a USP (Unique Selling Point) to make us stand out from the rest of the competition. This will include: > Having specially trained and qualified staff to help customers with any questions they may have. ...read more.

Conclusion

(Example of poster in research/analysis folder) Place The business will be located in the centre of Muswell Hill; this is essential to get the highest footfall figures. With my people passing the store the higher the chance that more people will be attracted to come in the store and purchase some products. Being on Muswell Hill Broadway is a good location, there are many transport links, with the busses 234, 102, 43, 134, 299 all stopping opposite the proposed location for the store, and the busses W7 and 144 terminate a matter of seconds away, which increases the amount of people walking past the store. With around 300,000 people living in Haringey and a further 350,000 people living in Barnet there are plenty of customers to target, 30% of which are aged between 20-40, meaning there is approximately 200,000 people who live locally and fit into our target group, of which we will aim to get at least 25% to visit our store, and have a regular customer base of around 5-10% of the 200,000. Of course people outside our target group will visit us, especially those below 20, and even those above 40 perhaps buying products for their kids, so we will have to take that into account as well. ...read more.

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