• Join over 1.2 million students every month
  • Accelerate your learning by 29%
  • Unlimited access from just £6.99 per month
Page
  1. 1
    1
  2. 2
    2
  3. 3
    3
  4. 4
    4
  5. 5
    5
  6. 6
    6
  7. 7
    7
  8. 8
    8
  9. 9
    9
  10. 10
    10
  11. 11
    11
  12. 12
    12
  13. 13
    13
  14. 14
    14
  15. 15
    15
  16. 16
    16
  17. 17
    17
  18. 18
    18
  19. 19
    19
  20. 20
    20

I am opening a new shop in my local area; this shop is going to be a Hair and Make-up shop called G.L.A.M

Extracts from this document...

Introduction

Marketing Coursework Task 1 Introduction I am opening a new shop in my local area; this shop is going to be a Hair and Make-up shop called G.L.A.M (Gifts, Lotions And Make up). Similar businesses already exist in the area and in order for my business to be successful I will have to complete a small scale marketing campaign. To do this I will carry out market research to find out whether my business will be up to standard and will also find out what my potential customers would like from my shop. I will also have to look at the different types of media in order to do a promotional campaign. Ownership I need to decide whether I should set up my business as a sole-trader or partnership. Both sole-traders and partnerships have unlimited liability, this means that there is no limit to the business debts and the owners are personally responsible if the business goes bankrupt. They may have to sell private possessions to help pay off these business debts. In a partnership each partner is liable for the business debts of the other partners. People in a partnership have to draw up a legal agreement between them, which is called a Deed of Partnership. This agreement includes information like how profits and losses will be shared, responsibilities of each partner, who is responsible for decision making and how much capital each partner is to invest in the business. There are many advantages and disadvantages of a sole-trader or partnership. If I choose to be a sole-trader then I will be fully in charge of all the staff that I employ, nobody will be able to tell me what to do and I personally could make all the decisions. Whereas if I was in a partnership, people would be on the same level as me and they may not like my ideas and suggestions. ...read more.

Middle

People will enter in the hope of winning something. You have to pay for the prizes you are giving out. Telephone, mail Communicates directly with the customer and asks them personally to buy the product. You get a one-to-one communication with the customers. People will disregarded your mail or hang up the phone, which is annoying. Internet The most high tech way to advertise my business. Can advertise on websites, by emails or pop ups. Relatively cheap and really easy to set up. Number of visitors can be monitored, targeted and can easily change. Limited audience. Possible technical difficulties or problems of connection, viewing, ordering and maintaining. More of a older audience. Posters Gives information to local people or people in the area. Can be very imaginative and can attract attention. National campaigns possible. Most groups covered. Minority programmes can target audiences. Seen repeatedly. Younger audience targeted. Excellent for short, sharp messages. This is a cheap way to promote. Limited amount of information. Difficult to measure effectiveness. Weather and graffiti can ruin the poster. Cost of Advertising I am going to research into the cost of advertising. The table below shows the cost of advertising in different newspapers and radio stations. � Daily Mail full page (black and white) 32,508 Daily Mail full page (colour) 45,612 Daily Telegraph full page (black and white) 45,000 Daily Telegraph full page (colour) 57,750 Sunday Times full page (black and white) 56,150 TV Times full page (colour) 18,500 Girl Talk full page (colour) 3,025 Go Girl full page (colour) 2,400 Yorkshire Post full page (black and white) 8,220 Carlton - 30 second weekday peak time spot (19:26hrs-23:00hrs) 30,500 Grampian TV - 30 second weekday peak time spot (17:15hrs-23:00) 750-990 Odeon Leicester Square, London - 30 second spot (each day, 1 week) 1,160 Lancaster Regal Cinema - 30 second spot (each day, 1 week) 192 BRMB (Birmingham Radio) - 30 second spot Wednesday - Friday (16:00hrs-19:00hrs) ...read more.

Conclusion

I would have to put my prices lower than Boots and Superdrug to make people want to buy from my shop because it has lower prices. The decision of been a partnership organisation is so that more capital can be invested into my business. It would also be easier if we wanted our business to grow than it would be if I were a sole trader. I feel this was the best choice for a business that is just starting up, although I still have unlimited liability and the business is unincorporated. It would be very expensive to set my business up in somewhere like the city centre with it been a very busy place where a lot of people work. There would also be a lot of competition in a place like this. Instead I have looked into more local areas, which are still very popular but a lot cheaper, such as the White Rose. I chose my promotional methods very carefully. I kept to a budget because I didn't want to go over the top with advertising. I would rather save up some money for other materials needed for my shop. I chose to advertise in a girl's magazine because it will attract the target market I am aiming at, a lot of girls and young women read magazines. I also decided to advertise with a poster on a bus because a lot of people will see it and it will catch the eyes of many young drivers. The products I will be selling will not affect my business as long as I keep up to date with the new fashions. Fashions change regularly. My business will be affected if I start to sell the brands that are out of fashion, this will be because everyone will want the new brands. I handed out some questionnaires and did some research on the Internet, which helped me when it came to deciding what products I am going to sell. ?? ?? ?? ?? Kirsty Fox - 11.6 Business Studies Coursework Page 1 of 20 ...read more.

The above preview is unformatted text

This student written piece of work is one of many that can be found in our AS and A Level ICT in Business section.

Found what you're looking for?

  • Start learning 29% faster today
  • 150,000+ documents available
  • Just £6.99 a month

Not the one? Search for your essay title...
  • Join over 1.2 million students every month
  • Accelerate your learning by 29%
  • Unlimited access from just £6.99 per month

See related essaysSee related essays

Related AS and A Level ICT in Business essays

  1. The business I am going to set up is a snooker club,

    * Businesses have to offer high-quality customer service, this includes ? Good - value products and services ? Clear and honest information about products ? After-sales service ? Dealing quickly with enquiries ? Help with specific issues Businesses can have many immediate benefits from having excellent customer services, the business

  2. Business Aims and Objectives.

    So if you broke your leg because you fell on a slippery floor on the company's premises, you would sue the company not the owners. All the profits after tax belong to the shareholders.

  1. Stakeholders - case study of Boots plc

    security > Rewarding the quality of their work > Opportunities for promotion and a career structure > Competitive pay rates and discounts on company products Owners Owners of Boots Plc have financial interests in the business. > In the long term the owners of Boots Plc hope that the share price of the company will rise.

  2. Identifying Business Objectives The Body Shop

    They campaign for the protection of the environment, human rights, and are against animal testing with cosmetics and toiletries industries. They work to narrow the gap between principle and practice. This company targets their stakeholders such as employees, franchisees, customers, suppliers and shareholders in different ways.

  1. Assessment of the Viability of Opening an Internet Café.

    Firstly, I used cluster sampling to question people. This is when sampling within a specific area, where u believe will find your potential customers. I questioned people outside Cyberia my main competitor. This was due to the small sampling size.

  2. In this assignment I am going to produce a detailed business report on a ...

    Feb-97 Feb-98 Feb-99 Feb-00 Feb-01 Feb-02 Total % Change Turnover (excluding VAT) 13,118 14,971 15,835 16,958 18,372 20,052 34.6 Annual Growth (%) 12 5 7 8 8 Profit 760 875 919 993 1,100 1,213 37.3 Annual Growth (%) 13.1 4.8 7.5 9.7 9.3 No.

  1. Business report on Marks and Spencer.

    22.2 Benefits Significant business benefits can be expected from the completed CMS project, such as streamlined communications with suppliers and a more efficient process for contracting products in time to match seasonal market trends. Total cost of ownership is always an important aspect of IT development.

  2. For this unit I will be looking at the marketing of an existing service. ...

    Because of the great increase in car travel, however, rail has a much smaller share of total travel in the 1950s. Below is a graph showing the percentages of each mode of passenger transport. Source: department of the Environment, Transport and the Regions Rail Journey Below is a graph showing

  • Over 160,000 pieces
    of student written work
  • Annotated by
    experienced teachers
  • Ideas and feedback to
    improve your own work