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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

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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.

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