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To carry out some successful market research for a sports shop business and to find out what people think and want. To explain the term 'marketing mix' and relate to this to my chosen business which is a sports shop.

Extracts from this document...

Introduction

Marketing Strategies OBJECTIVES 1. To carry out some successful market research for a sports shop business and to find out what people think and want. 2. To explain the term 'marketing mix' and relate to this to my chosen business which is a sports shop. 3. Construct an action plan to put down the orders of my tasks. 4. Develop a questionnaire to record my market research findings. 5. To choose the most suitable method for a business to be successful, and in relation to my results. 6. Why marketing is important for a business to be successful , and in relation to my chosen business 7. Obtain some costing to realize the financial implications of running my business. Olympic Sports For this piece of coursework I have decided to choose the business 'Olympic Sports' 'Olympic Sports' is located in Stratford, East London. The store, which I own, sells sports clothes, sports equipment, sports accessories. The business will be in the private sector. The business will be a sole trader, which means one person will run it. The advantages of being a sole trader are the following: 1. They are very easy to set up. 2. You get to be your own boss. 3. You decide what happens to all the profits. The consumers, who are the people who will be purchasing the products, will be those who are interested in sports, like to wear sports clothes and people who play sports. Therefore, the business is going to be aimed at the ages between 12-45, because these are the ages you would expect people to be fit. ...read more.

Middle

carries out market research is so that it can find out whether the type of business they are setting up can be a success or not. Some businesses do primary research. This is research that you gather up yourself. Primary research is useful for finding out new information and getting views from customers' about your products. It involves things such as questionnaires, telephones surveys, product testing and working with consumer groups. The Advantages of primary research are that it provides data that is up-to-date, relevant, and specific to your products. However there are a few disadvantages. These are that primary research is expensive to collect, it takes up a lot of time, and it needs a large sample size to be accurate. Primary research is also known as field research and original research. The other type of research is secondary research. This is when you look at other people's research. This is useful for looking at the whole market, and analysing past trends to predict the future. It involves looking at things like market research reports, government publications, and newspaper and magazine articles. The advantages of secondary research are that it is cheaper than primary research, the data is easily found and the data is instantly available. However, the disadvantages are that the information is not always relevant to your needs, it is not specifically about your products, and it is often out of date. There are two types of data that you can find. These are quantitative and qualitative. ...read more.

Conclusion

........................................................................................................................................................................................................................................................................................................................................................................................................................................................................... ........................................................................................................................................................................................................................................................................................................................................................................................................................................................................... Results Question 1: JD Sports 11 Sportsworld 4 Foot Locker 5 Question 2: Yes 17 No 3 Adidas 4 Nike 10 Reebok 2 Puma 1 �0-30 5 �30-60 8 �60+ 4 Question 3: Yes 14 No 6 Adidas 3 Nike 6 Reebok 2 Puma 3 �0-30 5 �30-60 8 �60+ 1 Question 4: Yes 9 No 11 Treadmill 3 Exercise Bike 1 Weights 2 Punchbag 2 Rowing Machine 1 �0-50 1 �50-100 5 �100+ 3 Question 5: Yes 16 No 4 Marketing Strategy My marketing strategy is as follows: 5 Weeks before the opening day I will begin to distribute flyers and leaflets to people. I will send out most of the flyers by post around Stratford, Forest Gate, East Ham, Canning Town, Beckton, and Plaistow. I will also give out flyers while standing outside Stratford Shopping centre. 4 Weeks before the Opening day I will again distribute flyers by post around Stratford, Forest Gate, East Ham, Canning Town, Plaistow, and Beckton. I will add a special offer onto the flyer so I could attract more customers. Also I will ask a few local shops in forest gate if I can put a large poster on the shop window so when people go past they can see the poster and hopefully they will take some of the information. 3 Weeks before the opening day I will put posters on my shop about its special offers and I will leave it there until the shop opens. Also, on the poster I will put all the special offers that I will have on the first day. 2 Weeks before the opening day ?? ?? ?? ?? Zaid Patel 11WALL Business Studies Mr Young ...read more.

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