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A marketing plan to start-up a new entertainment business.

Extracts from this document...

Introduction

., Year 10 Business studies GCSE task sheet Introduction My coursework is a marketing plan to start-up a new business. My new business is a entertainment business [to sell music, video games, game consoles, console accessories, DVDs, magazines etc] called 'E-life' My business will be located in 'South harrow' next to 'Woolworths'. I will try to get 25% profit the first year and increase my profit 10% every year. My products will cost 5% less than my competitors products. I will have monthly offers such as 'buy 1 DVD get 1 free'. I am having my market in south harrow because there are no shops specialised in just entertainment I am going to use primary (field) research as I can get better results. I will ask different aged people to get different information and opinions. This shop is for anyone but I think people between the age of 10 & 40 will come more regularly to the shop. ...read more.

Middle

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 1. ...read more.

Conclusion

(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 * Why is price important? * What affects 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. ...read more.

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