Marketing a new Retail Business

                                                that my business gets a good reputation. And

                                                that the customers will inform others, this helps

                                                to advertise my business.

4. Maximise profits- to make as much capital as possible, so that I am able to  

                                    cover essential costs.  Such as bills, stocks, wages etc.

                                    And also to have some left over for a profit.

Importance of Marketing

The definition of marketing is ‘The commercial functions involved in transferring goods from producer to consumer’

The importance of marketing is:

• The products I have are what the potential customers need/want.
• Place is also important because it has to be where everyone can reach the store, and the community around want to purchase the products.
• The price is another factor, the price has to be high enough for the business to succeed but lower enough to attract customers.
•  Promotion is the last factor, advertise or inform the public/customers that the product is there.

Target Market

The definition of a target market is a particular group which a particular product is aimed at. My target market will be people aged 12-50.I have a large target market because my business will sell a range of electrical goods to wide range of people, e.g.

• Young people aged from 12+ because they will want to buy games and CD players, MP3 players etc.
• People aged 20+ have money to buy TVs, hi-fis etc, because they have/will buy their own place and need to furnish it.
• Older people aged from 40+ will be updating to modern technology.

Research

Questionnaire

I need to complete some research for a new business that I am starting up. I would be very grateful if you can spare the time to fill in this questionnaire.

1. How old are you?

• 10-16
• 17-22
• 23-30
• 40+

2. What is your gender?

• Male
• Female

3. What is your Ethnicity?

• Asian
• White
• African
• European
• Other, please specify ……………………..

4. What is your Living Status?

• Resident
• Non-Resident

5. What type of transportation do you use?

• Walk
• Car
• Public transport (Train, Bus), please specify……………….

6. What type of products do you buy?

• Games & games equipment
• Entertainment electronics (e.g. TVs, radios etc.)
• Computers/Laptops
• Computer equipment
• Household appliances (e.g. toasters, cookers etc.)

7. How often do you buy the products?

1. Games & games equipment

• Weekly
• Fortnightly
• Monthly
• Yearly +

2. Entertainment electronics?

• Weekly
• Fortnightly
• Monthly
• Yearly +

3. Computers/Laptops?

• Weekly
• Fortnightly
• Monthly
• Yearly +

4. Computer equipment

• Weekly
• Fortnightly
• Monthly
• Yearly +

5. Household appliances?

• Weekly
• Fortnightly
• Monthly
• Yearly +

8. What types of games do you like?

• Action
• Strategy
• RPG
• Racing
• Adventure
• Classic
• Puzzle

9. What Games console do you have?

• Playstation 1
• Playstation 2
• Xbox
• Gamecube
• Gameboy Advance
• Gameboy SP
• Other Gameboy, please specify…………………….
• Nintendo 64
• Other Nintendo, please specify……………………..

10. How often you buy music?

• Daily
• Weekly
• Fortnightly
• Monthly

11.  How often do you buy DVDs?

• Daily
• Weekly
• Fortnightly
• Monthly

12.  What time would you prefer for the shop to open between?

• 9am-6pm
• 9am-8pm
• 8am-8pm
• 8am-7pm

13.  Do you have any other comments

……………………………………………………………………….

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Thank you for filling in this questionnaire.