• Join over 1.2 million students every month
  • Accelerate your learning by 29%
  • Unlimited access from just £6.99 per month

In this assignment I will carry out both primary and secondary research to find out who my potential competition, sources of finance is and where to locate my business.

Extracts from this document...


Task 1: In this assignment I will carry out both primary and secondary research to find out who my potential competition, sources of finance is and where to locate my business. The current state of economy in Ipswich is that there are 117,000 people in Ipswich, in which there are 71,550 people working. This means that over half the population of Ipswich will able to afford the products I am selling. Interest rates are also falling so people will be keener to buy my products; this is because people will have more money to spend. There are about 1,700 people unemployed in the area this would not really affect my businesses because the are more employed people. My main competitors for my business are Game Plc this is a public limited company so there are many shops all across the Europe. The shop is located in the centre of Ipswich on Tavern Street and is also located on Westgate Street inside Debenhams. Game Plc is also located in various places around Europe with over 200 stores. This is important to its success because if the gaming industry went in decline in one country in Europe, they will have stores in other countries, therefore they are more diversified. ...read more.


Also there are many other Gamestation based in the UK. Advantages of it being located in this place is that it is in an area where many people pass by, this means it can attract customers to come into its shop. It is near its competitors, thus customers can be taken from them and prices of tier competitors can easily be checked so they know how the competitors are thinking. Disadvantages of being located here is that it is very expensive to rent property and there are high business rates, therefore this will increase their expenses and revenue expenditure. Another disadvantage is that it is near its competitors; this could mean loosing customers to them because the customers may be attracted by something in the competitors shop. The range of goods/services it offers is: Computer games for all formats Computer consoles Computer accessories Computer magazines and related books DVD's Trade games with customers Buy and sell second-hand games to customers. Pre-owned games, consoles and accessories. It has a wide selection of these goods and has got a service, which they buy games from their customers for cheap and then selling it again for slightly higher. ...read more.


The location of my business is shown below: I think it will cost quite a lot to locate my shop there because it near the centre on town so it will cost more but there will also be more customers there too so I will make a profit. Therefore this profit can be used to improve the business in the near future for example buying the latest stock for the new business or bringing in new features to the shop for example bringing in hardware from other countries. I have decided to locate my shop at Tavern Street (See map). The reasons for this are that it is the main road through the centre of town so many consumers will pass by the shop and hopefully come in and also it has been found to be a convenient place for consumers. Also I am near my competitors; this means I could take some of their existing customers and see my competitor's prices and get ideas from them. There are some disadvantages of this location such as being too close to my competitors therefore I could loose customers too them and they can ideas from me. I will have to pay high prices for rent and will also be charged high business rates by the Council. ...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. Free essay

    Marketing Simulation Game

    By using the product mix concept a strategic assessment of the company's product offering can be made (Kotler, 1997). In order to achieve our marketing objectives we made a strategy that includes the various parts of the marketing mix. By focusing on each of the element of the marketing mix

  2. Business Studies Assignment Marketing

    * Wimpy- Wimpy is a franchise so they are restricted by their pricing structure. 11. As well as standard bowling, what else does XS Superbowl offer? E.g. competitions, kids parties etc. * XS Superbowl also offers alongside bowling pool, arcades, group bookings, teen parties, bowl and bite and food and drink.

  1. Business Shop Task

    Yes No 8. If yes, which other store/s in the area do you buy it from? 9. If no, would you be prepared to buy kosher meat, bearing in mind it may be more expensive? Yes No 10. If yes, how much would you be willing to spend on kosher meat?

  2. Alcopops - design a new business.

    Product Product is the first P that I am going to talk about, this is because it is seen as the most important in the marketing mix. A product is what the business is going to try and sell. Some businesses, usually smaller ones try to target particular market segments with their product.

  1. Factors that have influenced the development of the UK leisure and recreation.

    of younger people * An increase in the number and percentage of working parents, which also stimulates an increase in services such as childminding and domestic work. Here are some general statistics from www.ageconcern.org.uk The United Kingdom, in 2000, there were over 10.7 million older people (10,789,000): 9,021,000 in England 924,000 in Scotland 586,000 in Wales 259,000 in Northern Ireland.

  2. Marketing Assignment

    Should the business be a success though, the amount of effort the entrepreneur will have to put in decreases. Another advantage is the small capital that is needed, because the business is small-scale. But this small-scale nature makes it difficult to expand.

  1. Different types of primary and secondary market research ...

    For example, a start-up could start by selling to a limited local area in order to iron-out product issues. Software firms often test-market their products by offering ?beta? versions for testing by a small group of potential customers. Test marketing can be a good predictor of how a new product or service will be received by the larger market.

  2. Marketing research - To decide which products and services will be available in my ...

    As part of my research I conducted an interview with Parul Sayania, who is the owner of a similar business in Leeds. I asked the question "Who is your supplier?" Mrs. Sayania informed me that she buys all her supplies and beauty equipment from Sally Express -http://www.sallyexpress.com/.

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