• 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
  17. 17
    17
  18. 18
    18
  19. 19
    19
  20. 20
    20
  21. 21
    21
  22. 22
    22
  23. 23
    23
  24. 24
    24

Business Shop Task

Extracts from this document...

Introduction

Introduction What the task is My task is to advise Abraham Feldstein on how he can market his new kosher shop to potential consumers, and to use the information I obtain through the marketing mix, to help decide on the crucial decisions that must be faced if the shop if going to succeed. To ensure that the information I obtain to present to Abraham is useful, I will have to conduct detailed research into the aspects of the marketing mix. What is expected I will undertake some research on the topic of marketing, and to use the aspects of the marketing mix to obtain relevant information in basing decisions on how the shop should market itself from when it first opens. The information I obtain will need to be clear and appropriate if the shop is going to succeed under these key decisions. How I am going to do it I conducted highly detailed research in order to find relevant and appropriate information that I felt the shop would need to use if it is going to succeed. I also used aspects of the marketing mix wisely, and to the shops advantage. This included how well it will advertise itself to potential consumers, and how it will market itself within an area. To help obtain this information I carried out surveys, analysis of data, sources of information on the marketing mix, and reviews of other stores. ACTION PLAN Here is an action plan I have filled out to highlight the main activities I carried out, to gain successful the information. The activities have been broken down into the weeks following the start of this research project. Week Activity 1 The first thing I will need to do is complete my action plan. I will go about doing this by reading the assignment which I have been given and then identifying the tasks which I will put in a specific order of completion. ...read more.

Middle

After reviewing these each piece of information I am going to decide which sort of shop I will open. 8 I am going to identify the key things which my collected data shows me. I am then going to categorize the results of my questionnaire by converting the results into charts and graphs. I will then search for any information about my results which may help me conduct decisions based on the shop as well as its marketing. I will then finally evaluate my survey, based on how my results helped me with the shop decisions. 9 I will evaluate the shop I previously reviewed, highlighting the key pieces of information I obtained from it. I will then decide and explain how my shop will be different compared to the one I visited. 10 I will summarize the information I found about kosher licensing under Beth Din and will decide and explain whether my shop will be kosher or not and why. 11 Lastly, I will use the both the marketing mix and my own research, I am going to decide and explain how the shop should attract itself to potential customers by using the four main principles of marketing. Price, Promotion, Place and Product. I will analyse each of the principles by using an individual method for each one. Price - Identify the meaning of the key pricing terms. Promotion - Identify the meanings of the two promotion terms and devise a table showing advantages and disadvantages. Place - I will use the results of my survey to decide where to locate the shop. Product - I will decide on 5 factors which will help me decide on my product range. Analysis of Data Here are the results which I obtained from my survey, which I first created to find out about certain factors which would need to be considered before opening a new food store e.g. ...read more.

Conclusion

I also felt that by advertising through the media was a very efficient way of attracting consumers. Other then this it could be used to the shops advantage being that it could promote sales a large percentage of the consumers within the area possibly within a shorter space of time. Where the shop would locate I would now need to decide where the shop should locate and why, based on the results of my surveys. Going back to my observation of the results which I obtained in Chigwell, I concluded that it would in fact be the best possible place to locate. I based this decision on how well the shop would be able to cope within the area, through the answers of the potential consumers this included whether the shop would suit consumers wants and needs, how great the risk was of potential competition, and whether the sales of kosher food would be wanted or not, so if the shop if even going to make profit. Now I decided where the shop would locate I would then need to decide on what it should stock, being either kosher meat or milk .I devised a table highlighting the certain factors, and what affect they would have on what the shop would stock. In doing this I could easily break down the product range that would be decided that the shop would use. Here is the table I devised highlighting the factors which will be affect the product range of the store and why. Factors Why it will affect the product range? Accessibility to manufactures. If a certain product can only be made in a certain place, then if it is extremely far away then it is pointless to try and sell it. How expensive it is to manufacture. If the shop needs to stick to a limit on how much to spend, then an expensive product might not be suitable. ...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. Marketing mix

    outputs of the traditional marketing department, requiring close co-operation between marketers and those managers responsible for operations and human resources. Therefore the traditional marketing mix has been expanded by the addition of three new marketing mix variables - people, processes and physical evidence.

  2. SWOT analysis for an accessories store

    These issues will cause a major problem when my business -Ignores the problem -Doesn't have enough strengths to deal with it * Many competitors To my knowledge, there are several reputable businesses dedicated only to the producing and selling of accessories, and a huge, but growing, number of clothes stores offering their own range of accessories also.

  1. Would A Tuck Shop Be A Profitable Business?

    With both types of market research I would almost definitely get the best indications to whether setting up a tuck shop would be profitable. A good way of carrying out my market research will be to use a questionnaire which would be primary research.

  2. Business GCSE Unit 1, A1

    Cadbury World (located in Bourneville) is in the tertiary sector because it only sells the chocolate and provides a service to the public. Cadburys are marketing orientated, meaning they use market research to find out how they can make more money.

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

    The majority of people who participated in the questionnaire had said that they would normally visit a restaurant monthly, very few chose daily. However, because it is a fast food restaurant and people will not have to wait long for their food, they might realise that the business is selling a good product and they may visit more regularly.

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

    It is situated here because the market for estate cars is growing, more and more people want cars which are more practical and suitable for the many activities which they do. Mercedes do not have the largest market share as there are a company which has prestige and has a reputable image.

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

    Earnings per share increased to EUR 0.71 (basic) and to EUR 0.71 (diluted) in 2002, compared with EUR 0.47 (basic) and EUR 0.46 (diluted) in 2001. At December 31, 2002, net-debt-to-equity ratio (gearing) was -61% (-41% at the end of 2001).

  2. creating a marketing proposal

    * Whether you have met the needs of potential customers (how?) Yes, our marketing mix has the potential to meet the marketing objectives. The product, price, promotion and place are meets our marketing objectives for example a successful product needs a number of features.

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