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Pushback.com

Extracts from this document...

Introduction

Introduction My business is a sole trader, it will be a sports shop called Pushback.com, specialising in Hockey goods and accessories. It will be selling trainers and Hockey shoes, sticks, clothing, bags, protection, goalkeeping kits, coaching and fitness equipment and accessories. The shop will provide some services such as: * Stick re-gripping and maintenance. * Personalised team clothing The target market and likely customers are: * Club Hockey players, Younger children starting hockey at school and sports players, * Of ages 11-75+, * From the Spalding and district area, * Both male and female I TYPES AND STYLE Sole trader This is a person that runs their own business, usually on their own. The advantages of being a sole trader are, that the work that has been done is your work only, the profits are all yours and that you are self-employed (you are your own boss). The disadvantages of being a sole trader are that you may find you haven't got enough money to start the business, pay for staff, equipment and stock, you may need help choosing locations, themes and styles and you would be likely to find yourself working harder and longer hours. Partnerships This is when two or more people join together to form a business. Partnerships usually have two to twenty partners. The advantage of being a partner is that the workload is split but so is the profit. The agreement made to split the profit is called a 'deed of partnership'. Partnerships can include a sleeping partner or a silent partner, this is a partner who puts money into the business and takes profits from the business, but does not take part in how the business operates. Franchises A franchise is a business which is owned and sold, a franchise is usually well known, such as United Colours of Benetton, Mc Donald's and pizza hut. The franchisor is the main company that lets a franchisee run a small branch of the business. ...read more.

Middle

I have chosen these promotion methods because using the small budget I am using for marketing my shop and its product; these are the most efficient methods. SECTION 2: Promotional Methods Available Promotional Method Description Advantages Disadvantages Television Presenting an advertisement on TV to make viewers aware of your product or service. You reach a large amount of people in one go 1. Very costly 2. People may not see it Radio Promoting your product on radio, this can be locally or nationally 1. Wide target audience 2. Easier to produce 3. Cheap 1. Less information is presented 2. People may not hear it Newspapers Using words and pictures to advertise products and services. This can be locally or nationally. Can be put into type specific papers and journals to target the right one. Cost Leaflets Producing a booklet or information sheet giving information on products and services Viewed by customers who are interested 1. Costly to produce leaflets 2. They have to be distributed Billboards Using large displays to advertise products usually in town centres. 1. Easily seen 2. Wide audience Cost Direct selling/personal selling Selling products door to door Value of product is communicated directly to the customer People fell pressurized into buying Public relations A way of communicating to customers good reputation about your product Prevents Damage Sales Promotion Attempting to give a short term boost to sales 1. Short term boost of sales 2. Brings in customers Giving away products for free costs money Branding Building up a good reputation of your business Growth of customer base Direct Mail Advertising leaflets sent to potential customers, usually through the post Large target audience 1. High costs 2. Don't know if receivers are interested SECTION 3: Market Research Market research involves gathering and analyzing information from the customers. It is a way of gaining information about customer characteristics, lifestyle patterns, likes and dislikes. ...read more.

Conclusion

Methods that I will not be using: * Personal selling I will not be using personal selling in order to increase the sales of my business, as this method is very expensive and time consuming. It is very expensive, as I would have to pay for some to go to people's homes and try and sell products. This would allow the product to be personalized to the customer, however there is no guarantee of sale and travel costs would be high. Personal selling can also pressure people into buying a product, which may give the business a bad image. * Media Advertising (TV advertising) Due to the high cost of advertising on television, this method would not be cost-effective. Also, advertising on national television would reach a lot of people who would not come to my shop, therefore also making it ineffective and not cost effective. Marketing plan 2 weeks before opening. This would be good two weeks before because the businesses name will be in potential customer's minds when it opens. Direct mail-Leaflet local Houses. Notify potential customers that the business is going to open. Objective: to begin to develop a customer bas and interest in the business. 1 week before opening This will be good as in reinforces the above message, while informing others. Place posters around local area. Reinforce above message, potentially reaching customers, which may not have received a leaflet. Objective: continue to develop interest in the business. 3 days before opening Reminds people of my business for a third time, and is kept recent in the mind of my target segment, as the opening is not long after. Media advertising-Advertisement in the local paper. Reinforce above message, increasing interest in the business. Objective: continue to develop interest in the business and develop customer base. First three weeks Builds a customer base after opening my business. Sales Promotion- Introductory special offers on various goods. Build up sales Objective: Increase revenue and build customer base. ...read more.

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