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Marketing mix assessement to find a business idea to build and run - I have decided to open a mountain sports shop to sell all the latest gear in sports such as ski-ing, snowboarding and all the latest clothing and products.

Extracts from this document...

Introduction

Online store At the moment there is not a lot of online stores to buy goods from well known shops so there is not a lot of competition for my store. My online store would be selling music and I would make sure that it catered for every taste of music. Consumers of a product would not have to travel far at all as this is online, they could sit in the comfort of their own home shopping online for goods that they would like to have. Music Shop My music shop would cater for every need and taste that people may have, these would include Punk, Rap, Dance, Hip- Hop, Classical and any other tastes people would like. In Chester-le-street there is only Woolworths that sells any music at all and it does compose a threat to me by any means at all, therefore there is not much competition for my shop. People who live in Chester- le- street would not have to travel far as it is a small town and not much space to have to travel, although people outside Chester-le-street would have to travel into the CBD to but what they would like. Cinema There is no competition in Chester-le-street for a cinema therefore lots of people would go there, the closest cinema to people who live in Chester-le-street is the metro centre which is about 12 miles away so I would benefit very well if I built a cinema. I would have all the new films that have just came out so that people could select from the top names out at that moment. . People who live in Chester- le- street would not have to travel far as it is a small town and not much space to have to travel, although people outside Chester-le-street would have to travel into the CBD to but what they would like. ...read more.

Middle

to use my own name so therefore I would not be individual instead I would have to use the name of a chain of shops and business. In order for me to make sure everything goes the way that I wanted I could not have been in a partnership as I would not be able to make all the choices and therefore not be able to have everything go the way that I wanted and market my products to my demands. I also decided not to be a public limited company as I would not collect all of the profits, also because there is a control of policies and that the majority of shares in practically all companies are owned by institutional investors. Their huge blocks of shares give them great influence over companies, policies and the way in which they are run. In order for me to be a private limited company I would have to take a loan out from the bank and it would be a lot more expensive for me to set up my business, as a cause of this if the company didn't have very good business I would not be able to pay off my debt to the bank. customers fixed costs variable costs total costs revenue profit 0 9190 0 9190 0 -9190 25 9190 700 9890 1500 -8390 50 9190 1400 10590 3000 -7590 75 9190 2100 11290 4500 -6790 100 9190 2800 11990 6000 -5990 125 9190 3500 12690 7500 -5190 150 9190 4200 13390 9000 -4390 175 9190 4900 14090 10500 -3590 200 9190 5600 14790 12000 -2790 225 9190 6300 15490 13500 -1990 250 9190 7000 16190 15000 -1190 275 9190 7700 16890 16500 -390 300 9190 8400 17590 18000 410 325 9190 9100 18290 19500 1210 350 9190 9800 18990 21000 2010 375 9190 10500 19690 22500 2810 400 9190 11200 20390 24000 3610 425 9190 11900 21090 25500 4410 450 9190 12600 21790 27000 5210 475 9190 13300 22490 28500 6010 ...read more.

Conclusion

Long term finance would commonly be needed for a variety of purposes, including buying property for larger shops, more like a large chain of stores where they are able to pay there debt back for longer periods of time, such as 20 years. In my evaluation I will be talking about all the things that I have concluded and all of the decisions that I have made, I will say why I chose these and how I thought they would be better for my business. The first thing I had to find out was whether or not there was a demand for my shop and when I was finding this data out I took into account that there is always new houses being built and more people choosing to move into Chester-le-street therefore I assumed that there would more and more people shopping in Chester-le-street and there would be more of a chance of anyone being interested in my products. I felt that if there was more people living in the town of Chester-le-street then I would get more business and earn more income. The second task I took on was to find whether or not people are interested in any of the sports and to find out if they would buy products at my shop, when looking at my questionnaire or graphs you can clearly see that people would be interested in what I would sell. I then had to decide on what ownership would be best for my shop and location which would help to attract more customers, I chose the best ownership that I felt would be good for me and help me to keep my business running whilst earning more income and my location was chose on where it would be in the front street and what it is near, how much the rent would be and how big the shop was to stock my products. ...read more.

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