• Join over 1.2 million students every month
  • Accelerate your learning by 29%
  • Unlimited access from just £6.99 per month
Page
  1. 1
    1
  2. 2
    2
  3. 3
    3
  4. 4
    4
  5. 5
    5
  6. 6
    6
  7. 7
    7
  8. 8
    8
  9. 9
    9
  10. 10
    10
  11. 11
    11
  12. 12
    12
  13. 13
    13
  14. 14
    14
  15. 15
    15
  16. 16
    16

After evaluating the local area of Moseley, I have realised there is a serious lack in exquisite restaurants. Moseley is a very respectable area, therefore I feel this has given me the opportunity to open a respectable restaurant

Extracts from this document...

Introduction

Introduction After evaluating the local area of Moseley, I have realised there is a serious lack in exquisite restaurants. Moseley is a very respectable area, therefore I feel this has given me the opportunity to open a respectable restaurant. The nearest restaurant is approximately a 15 minute drive from my chosen location. Therefore I intend to open a restaurant in this region. I plan to call my restaurant Makou, I have chosen this name because the cookery type in Sri Lanka and Southern Indian areas is called Makou. The restaurant will be located near the main High Street which lengthens from Moseley through Kings Heath. I feel that if I choose to locate my business here I will attract not only customers from the area of Moseley but also customers from the area of Kings Heath. The High Street is a very busy place both day and night, this I feel is also an advantage because I will be attracting customers and a lot of attention, this can be great for my businesses publicity. I feel that this location will allow me to gain most of the market as my business is very unique amongst the High Street shops, as for the shoppers it is almost a treat because they can enjoy something which has never been offered. Aims & Objectives I have many aims to start my business and to keep it running, in order to preserve and keep my business running I must conduct market research and gain the most out of the market. I must take into account the 4 P's, pricing, promotion, product and place. I will research into my target audience in order to obtain crucial information about what my potential customers actually want. After my research has been conducted I must analyse my findings and I will present them in pie charts, these will clearly allow me to see which decisions must be made by my business. ...read more.

Middle

Internet: Websites can have a high visual impact, be interactive and link directly to buying the product. But the advert is competing wit a lot of other stuff on the net so it has to really grab people. Internet would be effective because it can make people aware of my company. It doesn't cost too much either. Only a few of the methods of advertising would be cost-effective and good to target audience. They are local radio, newspapers, posters, leaflets and the internet. I feel that using as much as I can in accordance to my budget will help me get the publicity that I wish to attract. The 4 P's also known as the marketing mix must also be included: * Product: A firm must come up with a product that people will want to buy. It must fulfil some of the customer's needs or wants. I feel that by opening this snooker hall I am appealing to many of the citizens who live In the Yardley Area. Opening a pool hall will enable people of the area to enjoy a game of pool whenever they like without having to travel a long distance to play. * Price: he price must be one that the customer thinks is good value for money. This is not the same as being cheap. I feel that by researching the different pricing strategies I will find the certain types of price I wish to charge. I am intending to charge a low price so that it will not deter people visiting the hall. * Promotion: The product must be promoted so that the potential customers are aware that it exists. I am intending to use the most effective means of advertising in such a local area. Research of advertising strategies will help to influence my idea. 4 Place: The product must be available for sale in a place that the customer will find convenient. ...read more.

Conclusion

Other successful ways which I hope to try out are radio, its not very expensive but happens to be very effective. Place - The location I have chosen is just off the High Street, this proves ideal because t is a very suitable location, I already have a lot of people passing by, groups are bound to take a look. I have also chosen this area because there is a lack of competition, this I hope will make my business successful. Product - I am hoping to introduce a exquisite unique restaurant as a new experience for shoppers on the High Street stretching through Moseley and Kings Heath, there will be a lot of events taking place here and I hope to bring along celebrities to up my business and increase my popularity along with publicity. Evaluation After conducing my research and after clear analysis of my findings it has been made clear what my customers actually do want and what it takes to make a successful business start and to keep it up and running. Preservation is a key factor here. First of all I realised that a car park would be important as people are often willing to travel to enjoy a meal, but I never realised what capacity of people wanted a secure car park. I have also realised that the research I conducted was thorough and precise. If I was to do this whole project over, I would have spent more time on my interview and questionnaire as this has helped me a lot, and I would analyze my findings more thoroughly. I feel that if I had enough capital I could then engage in more serious ways of promoting my business and maybe disperse nationwide becoming well known. Contents: 1 - Introduction 2 - Aims and Objectives 3 - 6 - Market Research 7 - Questionnaire 8 - Interview 9 - 14 - Findings Analysis 15 - Marketing Campaign 16 - Evaluation ?? ?? ?? ?? Sajid Ali Business CW 11.C2 ...read more.

The above preview is unformatted text

This student written piece of work is one of many that can be found in our GCSE Marketing and Markets section.

Found what you're looking for?

  • Start learning 29% faster today
  • 150,000+ documents available
  • Just £6.99 a month

Not the one? Search for your essay title...
  • Join over 1.2 million students every month
  • Accelerate your learning by 29%
  • Unlimited access from just £6.99 per month

See related essaysSee related essays

Related GCSE Marketing and Markets essays

  1. Free essay

    Marketing Simulation Game

    IMPLICATIONS Simulation: Bredeson (1996) says that in recent times there has been growing interest in redesigning the concept of programme content in leadership training by grounding theoretical and empirical knowledge in problems of practice. This was due to the need to shift from traditional discipline-based knowledge to development of specific

  2. For this project I have been instructed to come up with a marketing strategy ...

    be easier to use if they were going to purchase a mobile phone. Price- If the technology released with the phones is not as advanced, the price does not need to be as high as the prices of the phones in the market at the moment, as less money is

  1. I have been asked to produce a marketing strategy for an existing or new ...

    An increase in market share is not going to happen on its own. Mercedes needed to have a new marketing strategy to increase market share. My PESTEL analysis also found that the average family size getting smaller. People may decide that they do not need a car as large as a Mercedes and go for a smaller option.

  2. With reference to your local area, would a new healthy fast food restaurant represent ...

    For my secondary research I will look at the unemployment rates in the local area where the healthy fast food restaurant will be launched, I will do this because it will show me how many people are unemployed in Aston and Perry Barr which will show me if it will be easy or difficult to find employees.

  1. This coursework entitled "Marketing" is about creating a marketing strategy for a new or ...

    produce the cars in factories, display models are put in showrooms for consumers to look at and test drive, and they are then sold to the consumer. Although there is a middle stage here, the ownership of the cars does not change and the cars people actually buy are shipped directly from the factory on order.

  2. Throughout this unit project my main aim is to develop a marketing strategy for ...

    This would reduce the amount of records needed in DJ battle situations and it will also allow DJ's to have their own personalized mixing tools made up of specific sounds unique to the user. Within this project I will recommend the best strategies that can be used within marketing to help launch this new product onto the market place.

  1. Marketing plan

    I would have to lower my prices to keep my existing customers, but also should approach new customers to find another way of still being a working business. Decline Sales decline and this mean that I will need to come up with new ideas and services or modify my existing

  2. Business Studies - Project

    This is done in order to evoke perceptions of prestige and quality with the product or service. Penetration Pricing This is the opposite of price skimming and occurs when a business sets a low price in order to gain a good market share quickly.

  • Over 160,000 pieces
    of student written work
  • Annotated by
    experienced teachers
  • Ideas and feedback to
    improve your own work