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Business Coursework Marketing Plan

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Introduction

"I predict that the two most influential types of promotion will be :- 1. Local Newspapers, 2. Posters in the local area." This was wrong as the 2 most chosen types of promotion were Sponsorship and Local Radio. This could be for a few reasons. The most obvious is that I asked people with interests influenced most by these two types of promotion. Or I could have just been wrong. I feel that it was a combination of both factors, but the survey I feel still holds water and does not need to be re-done, although I will have to changer my original prediction. I now agree with the survey and I will target the two chosen types of promotion. GCSE Business Studies Coursework - Task 14 Produce a marketing plan in neat January I will launch my shop in mid-January, I will launch the shop with a cut in prices. Before the launch I will have posters placed around the local area along with flyers handed out in the street, an advertisement in a local paper and if I can afford it advertisement on a local radio station. I will also contact a local sports team to being negotiations for sponsorship. February End the sale in my shop and the large amounts of promotion, prices return to normal. By late-February negotiations should be near conclusion and sponsorship should commence as soon as is possible. I will also have a sale in the week before the 14th of February (Valentines Day) March Sponsorship should start. I will have a short sale of maybe 5 days as a 'spring sale'. I will also try to arrange a few promotional events with the local sports team. April For Easter I will hold another sale, this will be that last before my summer sale. I will also place more posters around the local area, and place a few more radio advertisements. ...read more.

Middle

be at achieving the aims you set out at the start I will take each of my original aims and then compare it to how I feel the campaign will work. Aim 1 - To survive. So I can make a living. For this aim I will need for my advertising campaign to be successful, especially the summer section of it. This means that I will have to keep costs to a minimum while maximising my income. I will also have to target my advertising effectively as I have a limited budget. I think that my advertising campaign meets all these requirements. It is targeted effectively as it matches with the results of my survey. It also targets the local area instead of nationally, this means that it is effectively targeted. To maximise profits while keeping costs to a minimum I have chosen cheaper forms of advertising radio instead of television. Therefore I feel my campaign meets these requirements. Aim 2 - To make a profit. Making a profit ties in with the previous aim. My campaign will have to be cost effective, and targeted effectively. My campaign as I said previously meets this requirement as I have chosen the types of media so that they target the appropriate people in the local population and are cheap enough for me to afford. Aim 3 - To eventually establish a brand in the local area. To establish a brand in the local area my marketing campaign will have to be effective, successful and be backed up by quality products. My business has the quality products and my marketing campaign is effective and should be effective. It will also take time to establish a brand, meaning I will have to continuously meet these requirements till I have built up a brand, this could even take a few years. The marketing campaign I have set out meets the these requirements, except that it will probably end before I have built up a brand in the local area. ...read more.

Conclusion

From my market research I found out that the two most appropriate forms of media for advertising my shop are sponsorship and local radio. I then decided to try and spend as much of my advertising budget on these two forms of media so I can maximise the cost effectiveness and overall effectiveness of my advertising. I also found out that most of my customers would be female and between 0-35. I then decided to focus on this segment of the population with my advertising by selecting events that would be attend by people fitting this description and by tailoring my advertisements for this segment of the market. I also found out that; the trades description act, the sales of goods act, the consumer protection act, and the weights and measures act all effect my business. I then decided to take measures so that my advertising and products meet the requirements of these acts. Overall I have found out quite a few major things and made a few major decisions. I feel I have made all my decisions correctly and with the appropriate knowledge. GCSE Business Studies Coursework - Social, environmental and economic effects of your business My business won't have a large impact on the local environment, or economy, but could have reasonable social impact. There won't be much litter produced by my business, but I would try to make my package recyclable so my customers can recycle it if they wish. My business would help other business by placing adverts in them (radio stations and newspapers) or by buying their services or products (paper mills for my posters and flyers). My business is unlikely to take business away from or bankrupt its rivals as they are large established brands, instead it will allow other people to buy jewellery. Socially my business has a larger impact, I will provide a few jobs to the local community. I will also provide leisure facilities by sponsoring a local sports team. It could also possibly improve the local image of the area if my business does well by providing extra services to the local community. ...read more.

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