Section 1 – Background
I am going to use a partnership ownership. The reason why I am doing a partnership ownership is because I can go on holiday but I have some one to look after the shop. I will also have someone (my partner) for backup if I go bust so he can lend me some money or look after the shop for a while.
Primary sector: - Extracting raw material and natural recourses.
Secondary sector: - Manufacturing raw materials into products.
Tertiary sector: - Retail or providing a service for customers.
I am in the tertiary business sector as I am the one that sells the product to the public and buy the products from the secondary sector. I will open a shop and sell my products that I will receive from other companies (Play station, Xbox, Samsung, Sony etc.)
Describe what segments and niches are in this market (type of market and competition) and where your business fits into this
As I am the only shop specialised in DVDs, video games and other electronic goods but Sains has also a small area specialised in my market.
What resources do you need to run your business and where will you get them from?
I will need posters and leaflets to advice my weekly offers.
Section 2 – consumers
Who are the potential customers of you business and how are they segmented?
Who do you think is your target market – age, gender and soico – economic group?
What things are your target market interested in? What attitudes and purchasing requirements might they have?
Section 3 – market research
Write a questionnaire aimed towards you target market, you must include questions on where they shop, how regularly what they buy, what they would like you to sell, what price they pay for things etc
- In which age group do you belong to?
10-14
15-18
19-29
30-39
40-49
50-64
65 or over
- What gender are you?
Male
Female
- Do you regularly go to an entertainment based shop (e.g. HMV)?
Yes No
- What product(s) do you mostly look for as you enter an entertainment shop?
Game consoles
DVDs
Music CDs
Video games
Magazines
Game console accessories
Snacks (sweets, crisps, etc)
Drinks
Other, please state here____________________________________________
Turn your questionnaire results into graphs and write what they show, you must do at least 6 graphs you can write about what you found from the other questions.
Do a summary of your questionnaire results
Section 4 – Product
Explain what the product part of the marketing mix is
Explain in detail who your direct competition is – what do they sell and at what price?
Give their names and estimate their market share (use your primary research to help you
How will you make your product/service/shop different to anyone else’s?
Explain the product life cycle and extension strategies you could use
What size are you going to sell your product in? (Single, multi-pack, link to target audience
What packaging are you going to use and why, what legal implications might there be?
What do consumers think about your product or shop? You might need to do a product
Taste test or a small focus group.
Section 5 – Price
- What price strategies could you use?
- Explain the pricing strategy that you have chosen to use and explain why
- Try to estimate the cost of your product, the profit you will make and the volume you will sell.
- Link to image and quality
Section 6 – Place
- What does place mean?
- Why is place important?
- What are the channels of distribution for your business? (link to the environment)
- Where are similar products sold? And why?
Section 7 – Promotion
- What is promotion?
- What types of promotion do your target audience take notice of?
- What promotion is you going to use and why?
- Show examples of promotion you intend to use?
- Explain the timing of the promotion
- Talk about constraints of promotion e.g. laws, cost etc
- Does the type of promotion you have chosen agree with what your primary research said to use?
Section 8 – Costs
- Include how much you expect your marketing plan to cost
- Remember to include the cost of research
- The cost of promotion
Section 9 – Conclusion
- Do a summary of what you have found out
- Make recommendations based on what you have found (one for each of the 4p’s)
- Have you met the question of coming up with a marketing plan?
Section 10 – bibliography
This is a list of all the books and websites you have used, you CAN NOT just put Google you must put the actual addresses in
Do it in this format
Author, Book title, date, publisher e.g. J. Edge, Business GCSE, 2004, Smith Publishers
Section 11 – appendix
Include in here copies of your questionnaires any secondary research you found, or any articles not just rubbish you have printed off the internet