I have formulated a marketing campaign for a new retail business. My chosen business is a sports shop which will be called 'AKA SPORTS'. I have decided to situate my business in High Street North, East Ham
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Business Studies GCSE Coursework Assignment 6: Marketing strategies G. C. S. E. BUSINESS STUDIES COURSEWORK MARKETING STRATEGIES Contents: 1. Synopsis 2. Marketing mix/USP 3. Market research 4. Economic and legal factors/Planning permission 5. Media suitable for supporting my marketing campaign 6/7. SWOT Analysis 8/9. Business/ Target market/ Market strategy I0. Things to follow to be a success 11. Things to avoid so not to be a failure 12. Questionnaire 13. Social grades 14. Analysis of questionnaire results 15. Conclusion I6. Map of location of competitors and of my shop 17. References 18. An example of flyer 19/20. An example of business cards Business Studies GCSE Coursework. Marketing Strategies. Synopsis: For this GCSE assignment, I have formulated a marketing campaign for a new retail business. My chosen business is a sports shop which will be called 'AKA SPORTS'. I have decided to situate my business in High Street North, East Ham, and I have a lot of competition from similar and longer established businesses. I have explored the different types of media I will have at my disposal for a small retail establishment in this area. I have also looked, at, advertising and promotions for my business. While selecting my marketing campaign, I have considered the alternatives and used well-known marketing terms to influence my decisions. Business Studies GCSE Coursework. Marketing This is where the exchange of goods and services takes place between sellers and consumers. The objective of 'Marketing' is to satisfy the consumer who buys the products, this includes using the marketing mix or also known as the 4 P's. Marketing mix: In my marketing mix or 4 P's. I have given explanations for my choices: 1) PRICE: I will have special offers monthly. I will not have prices too high or too low because that could send the customers away or I could make a loss so I will have a ' Unique Selling Point' (USP). I will also give discount cards to the first 50 customers who buy an item.
WEAKNESSES: The things that can stop my business from growing. I will need to have a very large and exciting promotional campaign because my shop is surrounded by many other stores. Products not marketed properly. A poor marketing strategy,. Poor customer service. Poor customer relations. Poor quality of products. OPPORTUNITIES: Things I could do to make my business a success. I will have to change my prices often. I could give extras like 'discount card'. I could expand my target market. I could get someone famous to open the shop e.g a football player. THREATS: This includes things that can stop the success of your business. There are many other shops like my own which have been established in this area longer. The are more well known sports shops around my area like: Cobra sports LTD, Cassetari sports, Rowe sports LTD and Greenwood Sports Supplier prices could go up. The area could have a high crime rate. Business: I know that being a sports shop, the business will have to be product orientated, where the product is the most important factor. My product will have to be of the best quality because that is what the customer wants. Target market I will have to aim at a certain age group, because my establishment is a sports shop. I don't have to aim at a gender group. To find out my specific market, I will hand out a Questionnaire to random people on the High Street and wait to see their replies. My target market applies to the social grades of the Skilled manual (C2) because they have the most population percentage in the UK (3I.2) and it also applies to the Supervisory or clerical and junior managerial, administrative and professional (Cl) because they have the second most population percentage in the UK (22.3). The semi-skilled, and unskilled manual (D) could be included because they have a I9.I population percentage which is third.
The other thing that affects me, is what to put in my sports shop but I decided to offer sports clothes e.g. shorts and tracksuits. I also decided to sell trainers and sports equipment such as footballs and basketballs. The social grades will affect my business, as some items are very expensive so the people in grades D+E may not buy as much as the other grades. I will mainly aim at grades C I, C2 and D. I decided to locate my business in East Ham, Newham, London, which is a very busy area ( the location of my business can be seen on the map). My advertising is going to be small scale so I decided to advertise in the local newspaper such as the Newham Recorder and on the local radio station and I also decided to hand out flyers and put up posters. The prices of my products will be the same as some of my competitors and cheaper than the rest. The laws that affect my business are the laws of copyright and advertising. The first thing shall do in my marketing campaign will be to start the market research which will tell if there is a market interested in my U. S.P. I will then ill, research into what type of equipment the other sports shops sell and I will see if my idea to give out discount cards will work. Then I will begin to advertise in the local papers to inform people about my shop especially my, special offers. I will then send flyers around to houses in the immediate area and I will also hand out flyers on the High street and I will also put up, posters. By then my business will he ready to open, and to attract people to the opening, maybe getting a sports star to open the shop will be appealing and draw the crowd in.
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