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Investigate the different types of media that would be available for a small scale campaign to open a new retail business, the market research that could be undertaken to decide upon the marketing campaign and marketing.

Extracts from this document...

Introduction

Year 11 Business Studies Marketing Strategies Coursework chool and ffice tationary To: Swire Properties Management From: Aaron Zhou 11V, KGV Date: 25 November 2002 Terms of Reference: To investigate the different types of media that would be available for a small scale campaign to open a new retail business, the market research that could be undertaken to decide upon the marketing campaign and marketing, including promotions and advertising. Finally, to conclude whether or not the business has a chance of being successful if it is opened. Introduction SOS is a supplier of stationary goods. With a board of keen and talented directors to pave the way, SOS strives to become "The Spirit and Soul of Communication". SOS will focus on building on or stretching the company's resources and competence to create opportunities or capitalise on them. It is the goal of SOS to innovate and develop products to create significant economic value for customers, employees and the community, supported by exceptional customer service. SOS will be dedicated to produce innovative and appropriate office products that will strive to outperform the competition. Students (primary, secondary and tertiary), schools, universities, teachers and other businesses in Hong Kong are the target customers and SOS aspires to meet the specific needs of the market, through research and development. That is, SOS's products will be perceived by the market to be of superior functionality and user friendly, which command a premium price. SOS protects its competitive advantage of competitive product innovations through extensive research and development, quality products at premium prices and exceptional customer service. SOS shall rent the retail site currently owned by Swire Properties Management, which is located at the heart of Kowloon Tong, in Festival Walk Shopping Centre. It is located on level, LG2, Shop 28. Festival Walk is the centre of all trading in the Kowloon district, which huge numbers of shoppers daily. With a university, primary, and many high schools within walking distance away, it is the meeting place for a variety of people, all who need stationary in their everyday lives. ...read more.

Middle

SOS will try to grab some of the limited space on the MTR railway station's billboards as soon as possible. SOS will try to put up posters around the neighbourhood, including places like the City University of Hong Kong, Parc Oasis, and primary and secondary schools such as the Australian International School and Kinston International School. Advantage * Since people pass by the signs repeatedly, large and colourful signs easily attract attention. * Cheap * Can be put up in many different places: more chance of being noticed Disadvantage * Limited space * Passers-by don't spend long viewing the signs Availability There is limited space in MTR stations. However, signs can be put up outside the stations and around Festival Walk. Posters are welcomed at the club house of Parc Oasis, which is a large and well-known residential area. Signs are permitted to be put up at many international schools in Kowloon Tong including the Australian International School and the American International School. Cost The cost of advertising in railway stations is relatively low compared to the radio and television. Advertising in schools costs nothing. The cost of advertising in residential areas varies from nothing to HK$200 a month. Parc Oasis charges nothing. Appropriateness Billboards, posters and signs are appropriate for SOS because it is cheap and is able to reach a lot of people. Newspaper- Newspapers are fairly cheap to advertise in and reach a huge number of people, especially the Metro, which is distributed at no cost at every MTR station in HK. MTR railway stations are used by over 2,500,000 MTR travellers daily. Other newspapers that are suitable include the South China Morning Post and the Apple Daily. Advantage * SOS can prepare and publish an advertisement within a day * SOS can appeal to people with special interests by placing their ads on certain pages * Cheap * 83% of people read newspapers in Hong Kong Disadvantage * Easily overlooked * Limited space * Cannot reach as many people as television Availability It is very easy to put advertisements in newspapers. ...read more.

Conclusion

Boost early sales by using types of sales promotion like free gifts and special offers Ad: allows SOS to spend its money on other things, promotions attract lots of customers and boosts sales Raises interest Funds will mostly come from the owner/ entrepreneur. A bank loan is also possible Fact Conclusion After conducting the necessary market research, we have come to a conclusion that SOS does have the potential to become a successful outlet and top competitor in its market sector. We at SOS believe that the right marketing mix will give us a competitive edge over our rivals. The market demand for stationary products in the Kowloon Tong area appears to be very high because there is no shop that sells only stationary goods (their range of products are very limited). Therefore, specialising in this particular area will meet customer demands. Recommendations 1. SOS will sell its stationary products at competitive prices, which will see a profit and improve customer satisfaction. 2. Advertising will be done in newspapers, on the radio, and on posters and billboards in popular transportation areas such as the Hong Kong underground railway stations (MTR) and the Kowloon-Canton Railways stations (KCR). The survey showed what types of advertising customers respond to. 3. Market research was be done using primary sources like surveys and secondary sources like newspapers, text books, internet, and magazines. 4. SOS will sell a large quantity of electronic equipment, writing equipment and material, and books and paper. SOS will make sure that there is a wide selection of brands to choose from and its products is of the highest quality. Customer service will be a priority to ensure customer satisfaction. This way customers will return to SOS for future purchases. This was all determined by the results in the survey questions relating to products and price. Evaluation High commitment will ensure successful implementation of these recommendations. The recommendations which were made from the possible options will be improved in the future. If sales are high, expansion is definitely an option. This plan is appropriate for the purpose of opening a retail shop. ...read more.

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