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Business marketing campaign

Extracts from this document...

Introduction

ASSIGNMENT: A new retailed business (e.g. Greeting card shop/florist) is opening in your area. Similar businesses already exist in the area and for the new business to be successful a small scale marketing campaign will be necessary. You will need to investigate: the different types of media that would be available for such a campaign the market research that could be undertaken to decide upon the marketing campaign marketing itself, including promotion and advertising ACTIVITY: Prepare a marketing plan for your campaign. The plan must indicate: Alternatives you have considered. The reasons for the decisions you have made. INTRODUCTION: The business I have chosen in my project is called "ELEGANCE(tm)". It is a beauty parlour in Edgware Road, in Central London. I have chosen this as the location as there are no beauty parlours in this area, and this may be a good investment. However, there are hairdressers and nail salons scattered all over the area. This may provide competition, as ELEGANCE(tm) offers all the services these businesses do. The business administrators have asked for my assistance in a small marketing campaign to kick-start the new business. For this, I will need to conduct some marketing surveys as part of my research, which will involve looking at other similar businesses, what they have to offer; and also a survey to find my target group. Once I have found these, I will continue my survey to my chosen target group, and find their preferred services and prices. ACTION PLAN: This will help me to plan out my project and what information sources I will use, and also ensure I organise my work effectively and complete each part by a particular deadline date. Action Plan This is my action plan. It shows how I planned out my coursework project and the information sources I used, what I did, and the dates each topic was due. ...read more.

Middle

And a smaller section in COSMOPOLITAN and MARIE CLAIRE (Slightly Older women, around mid-20's/30's) where the topic of hair and beauty is shown more importance. Even so, the nail designs seem to be simple and fashionable rather than "off-the-catwalk mayhem designs"-Cosmopolitan These factors should help me start to realize what my business should require to begin to appeal to my target market. Other Forms of Market Research Other forms of market research are also possible. There are two main types of market research. These are Desk Research and Field Research. Desk Research This type of research is SECONDARY research. This is because the research has not directly been done by you. This type of research is useful for looking at factors like past trends which may help determine how your business may cope in the future. It would involve looking at market research reports, e.g. MINTEL ...and looking through paper sources like newspaper and magazine articles. Field Research This type of research is PRIMARY research because the information is collected and tabulated by you. There are many ways to conduct field research, some examples are: Questionnaires; I have used this feature in my own market research. Telephone Surveys; I have not been able to use this features as I do not have the authority or permission to do this sort of research. and Product testing; Rather than testing products or services, I have decided that I am going to analyse two similar businesses within the area, which may provide future competition for ELEGANCE Beauty Parlour. Unfortunately, it is not possible for me to conduct many of these. I have conducted field research in the form of my questionnaire and have conducted desk research by looking at the websites and paper sources I have mentioned. However, I choose to conduct another form of field research. ELEGANCE is a Partnership business so I have made sure that at least one of the other businesses is a similar type. ...read more.

Conclusion

All together, the Promotional material should cost :( �10+�7+�5) = �22 The company will need to re-stock its promotional material monthly, but if they wish to change the size or design of any of the items, the cost will vary. However, if they wish to keep the same designs and sizes, the cost of promotion will be about: (�22 x 12) = �264 per year Newspaper advertisements cost �5 for a small advert and �15 for a full page. The owner of the beauty parlour wishes that the business is given more recognition than the others in the newspaper and requests a full-page advertisement, this may be a one-off for the grand opening, but if the beauty parlour wishes to monthly advertise any new offers or discounts which may boost business, it would amount to another (�15 x 12) =�180 per year. This, added to the cost of the other promotional material would reach (�264+�180) =�444 per year. This would be the cost for promotion. Evaluation I have conducted market research to find ways to promote a new business and found a target market and have involved the marketing mix: Price: my prices will be �10-�30 for the services similar to other companies in the area which offer similar services. Promotion: I have found ways to promote the new beauty parlour and have stated them and the cost of promotion in the "bring business to public notice" section of my project. Place: the location I have chosen is a popular area where a lot of public and potential customers reside in or visit on shopping trips. Product: The parlour will offer services similar to those available in other hair and nail salons in the area, and also have extra facilities and services unique to the beauty parlour itself. I have conducted Market Research where I have used both desk and field research. I have analysed two similar businesses and conducted a public survey as my field research and I have used magazines and websites to assist me in my desk research. ...read more.

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