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How can 'A's CD store' successfully promote its new retail outlet in Causeway Bay?

Extracts from this document...

Introduction

How can 'A's CD store' successfully promote its new retail outlet in Causeway Bay? Contents Introduction...................................................................................Pg 3 Business aims.................................................................................Pg 3 Sources of Information.................................................................Pg 4 Action plan....................................................................................Pg 6 What will influence the marketing decisions A's CD Store makes?....Pg 7 How an A's CD Store make use of the marketing mix?.......................Pg 8 What types of media are most suitable?...............................................Pg 9 Why is market research important for A's CD Store?..........................Pg 12 What secondary data will I use and why?...........................................Pg 12 Which methods of field research will I use and why?.........................Pg 12 An example of the customer survey questionnaire........................Pg 13 Analysis of data..........................................................................Pg 14 What other data would have been useful?........................................Pg 17 What other issues need to be considered before identifying possible options?...................................................................................................Pg 18 The possible options table..........................................................Pg 19 Conclusion..................................................................................Pg 21 Recommendations....................................................................Pg 22 Evaluation....................................................................... .........Pg 23 References....................................................................... ........Pg 24 Appendix....................................................................... ..........Pg 25 Reported to: All staff of A's CD Store, Causeway Bay Reported by: Mr. Andy Lau, Manager Date: May 2007 Title: How can 'A's CD store' successfully promote its new retail outlet in Causeway Bay? Introduction Most CD stores in Hong Kong don't store CD's from different bands and genres. For example HMV do not stock genres like hardcore, post hardcore, screamo or emo. I think this is because they don't think they will make a profit from stocking CD's from these genres and that no one would buy them if they did stock them. I personally think that by having these genres I can make a profit because a lot of people in Hong Kong especially teenagers have started listening to these genres of music. In my CD store, I will be selling CD's and band merchandise like shirts, jumpers, bags and shoes. 'A's CD store' will be aimed at people between the ages of 13 and 25. There will be no specific gender that we will aim for because both genders like the products and music. ...read more.

Middle

This can help me understand what the public likes and dislikes. Having that information it can help me decide on what products I should stock in my shop. Observation is where I will keep an eye on customers while they are looking around my shop and looks at the products. By monitoring customers while they are at my shop it can help me decide on how to layout my shop and how I can put my products. Analysis of data - tally chart Questionnaire Please take a few minutes to fill out this questionnaire:). What age group do you fall under? 12-13 [ ] 14-15 [ 8 ] 16-17 [ 2 ] 18-19 [ ] 20 or above [ ] What is your gender? Male [ 9 ] Female [ 1 ] What type of music do you like? Hardcore [ 4 ] Screamo [ 5 ] Metal [ ] Emo [ 1 ] Other (Please Specify) ___________________________________________________________________ Where did you hear about our company? Posters [ 4 ] T.V. [ ] Friends [ 4] Newspaper [ ] E-marketing [ 2 ] E-mails [ ] How do you feel about our staff? Very Poor [ ] Poor [ ] Good [2] Great [ 2 ] Excellent [ 6 ] How much money would you spend on CD's? 50-100 [ 4 ] 100 - 150 [ 6 ] 150-200 [ ] 200 and above [ ] Do you think our shop is in a good location? yes=[8] no=[2]__________________________________________________________________________________________________________________________________________________________________________________________________________ Who is your favourite band? Underoath [ 4 ] Bring me the Horizon [ ] I Killed the Prom Queen [ 2 ] Atreyu [ 2 ] Scary Kids Scaring Kids [ ] [ 2] Others (please specify) _________________________________________________ Why would you go to other CD shops? Faster [ ] Cheaper [ 2 ] Friendly [ 4 ] Better Products[ 4 ] How can the company improve for the future? ...read more.

Conclusion

The rent of the space must be fairly cheap. When my shop gets more popular and gets a steady amount of profit I will move it into a location like a shopping mall. Promotion A's CD Store will be doing a lot of promotion when the shop first starts off. This is to attract customers and to let them know we are there and open. I will use posters to promote my shop when it first starts off, I chose this method of promotion because it is cheap and it is also very easily accessible. Posters will be up at local band shows and concerts. They will also be up along the street. Later when the shop gets more popular I may think about promoting on television or on radio stations. Evaluation To make the marketing strategy for A's CD Store successful I will have to do a several things to make that happen. I will have to make the price of my products cheaper than my competitions. I will do this to attract customers when my shop first opens. Another thing I have to do to make my marketing strategy successful is that I will have to stock the newest CD's. If the customer is looking for a CD I don't have I will try to order it for them. I will do that to improve the reputation of my shop and to satisfy the customer. This way hopefully the customer will come back and buy more products from my shop. All, old and new, CD's will be stocked in my shop. I will do this because some customers may be looking for an old CD of an artist and if I don't have these CD's then I will be losing profit and customers. By doing this the customers will hopefully return to my shop in the future and tell their friends about my shop which will help promote my shop. Also hopefully those customers will visit again with their friends to buy more products from my shop. ...read more.

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