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Conducting market research to find out who the target market is for a business.

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Introduction

Action Plan What I need to do Where I shall get the information from Alternative strategies Problems/ comments I need to write an introduction explaining the type of business/ organisation my client has set up, the business problems they are facing and the business aims and objective. I shall hold a meeting with my client Discuss with client My client may not be willing to discuss the marketing plan. I will explain the objectives of the marketing campaign and how this will help the business achieve its aims. I will use the Internet and textbooks. 20 20 research I will identify the target market and explain to the client. I will also discuss other potential methods of the market. I will produce a questionnaire. Discuss other potential methods of market research. I will interview a shop owner to see their aims and objectives. Desk research- use of the Internet. www.barnsley.gov.uk I will need to ensure that the questions asked are appropriate. I will present the findings of my research towards my client Using graphs and charts I will use the information I have gathered in the questionnaire. I will discuss what needs to be took into consideration regarding location, target market and pricing. The target market may be varied I shall discuss three options that my client could use to promote their product. I will use the information on promotion and advertising, and the affects of legal constraints. ...read more.

Middle

What is your occupation? Senior managerial [ ] Middle managers [ ] Supervisory or clerical workers [ ] Manual worker [ ] Long term unemployed/casual worker [ ] Full/Part time education [ ] 5. How often do you purchase flowers? Every week [ ] Once a month [ ] Once year [ ] Never [ ] 6. How much would you be willing to pay for a bouquet of flowers? Under �10 [ ] �11-�15 [ ] �16- �20 [ ] �21 and above [ ] 7. Do you buy flowers for special occasions? Yes [ ] No [ ] If yes what is the main purpose? _____________________________ Thank you for taking the time to complete this questionnaire. It will be of great help. Interview for the owner of Hacketts 1. What were your original aims and objectives of your business at opening time? _____________________________________________________________________ 2. Where is your business situated within Penistone? And how does this link to your businesses success? __________________________________________________________________________________________________________________________________________ 3. What are the ranges of goods/services you offer? _____________________________________________________________________ 4. What is your target market? _____________________________________________________________________ 5. How has your target market influenced the ranges of goods/services you offer? _____________________________________________________________________ _____________________________________________________________________ 6. In what ways will the opening business similar to yours in Penistone affect your business? Strengths__________________________________________________________________________________________________________________________________ Weaknesses__________________________________________________________________________________________________________________________ Opportunities_______________________________________________________________________________________________________________________________ Threats_______________________________________________________________ _____________________________________________________________________ Interview with shop owner analysis From my interview with the shop owner of Hacketts I have been able to find the strengths, weaknesses, opportunities and threats of a new business opening in Penistone. ...read more.

Conclusion

I believe that I have found the most cost effective way of acquiring custom to my client's business, still allowing it to be a success. I think that it would be suitable for my client to advertise using a printing company. Ideally, my client could pay the local printing company to print approximately 5000 coloured leaflets on A4 paper. This will allow them to be used as posters as well as leaflets that would be handed out to the targeted market. I believe this will be the most cost-effective method and will allow my client to direct all its custom to the intended target market. I think that coloured leaflets or posters will be more attractive to the eye and is appropriate for a florist advertisement. On the leaflets, my client must include introductory offers, if they are available and state where the shop is and when it will be opening. My client must also be able to persuade the targeted market to visit the florist. In the future, if my client's business were a success, then it would be suitable for them to expand due to the popularity. My client will have to continue to maintain their standards of advertising, in order for the businesses demand to continue. My client could also look at becoming a Ltd company. If my client's business became a private limited company, it would mean that they would be able to sell shares. Those who set up the company, or others whom they allow to own shares, can only own the shares that would be sold. Louise Hinchliffe Business studies-Marketing Strategies ...read more.

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