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

Is There Scope For A New Business In My Local Area?

Extracts from this document...


Is There Scope For A New Business In My Local Area? Section 1- Aim. I believe there is one aspect of retail that is missing in my local area; therefore I have chosen to start up a shoe shop. This shoe shop will cater for all needs and all types of shoes: glamorous, work, general etc. I will be undertaking my investigation by asking people to answer simple questionnaires in order for me to see if a shoe shop is really wanted and needed in my local area (Wallington.) and if so who the likely customers will be. I will then be looking at data and statistics to help me with my secondary information. I will be asking mainly middle-aged people, as they seem to over rule the age groups in Wallington. I will be then considering the marketing mix - Price, Product, Place and Promotion, to help me come to a conclusion as to whether there is scope for the shoe shop. 1.2- Objectives. Section 2- Methodology and Questionnaire. For the methodology I will note how I carried out the investigation, and the questionnaire will include approximately 10 questions, which will make the basis of my primary research. ...read more.


I shall support my argument with additional information and consider the advantages and disadvantages of each aspect of the marketing mix. I must use my research accordingly to find the best marketing mix for my shoe shop. Section 6- Final Section. In this final section I shall present my findings, an evaluation, my conclusion and recommendations. This will contain comments and important findings which will help me if I was to redo my investigation. Lastly I shall include my appendices and Bibliography. This is all the information I used and the websites, books and other resources I used throughout the project which helped establish my initial information. 1.3- Methodology I will be investigating the scope for a new shoe shop in my area and to do this I will need to do certain amounts of research. Primary Research. My primary research was mainly found out from questionnaires, which I will ask local people to answer. To do this I need to use some kind of sampling, not to discriminate or stereotype I will use random sampling. This means I will ask people at random no matter their age or gender. ...read more.


Secondary Research. For this I will be using information which already exists, and therefore will be using the internet for example to find out previous information which should hopefully be up-to-date and recent. I will be investigating the population statistics of my area using the Internet and previous Census'. This will allow me to calculate how big my potential public will be. This will hopefully be big enough for my shop to make a profit and survive upon. I will also be adding maps and photographs which will locate competitors and local shoe shops which may be a threat to my new business. If they are nearby they may become a problem and will therefore need to be investigated further and this will occur in my secondary research. Alongside this I shall be investigating transport links to my shoe shop. I will also be using other information sources e.g. The Yellow Pages. By doing this I can pinpoint all competitors within range, which my help me compete for customers and advertise accurately. I may discover that I will need huge amounts of special offers and advertising to ensure my shop will take priority and become most popular. ?? ?? ?? ?? 1 ...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. This coursework entitled "Marketing" is about creating a marketing strategy for a new or ...

    This can then be analysed to help devise the marketing mix. The price of the A6 should be set high (the company chose �24,175 to �42,775). This is because it is price inelastic, is a high quality product and has a reputable brand.

  2. Marketing mix

    The longer a customer stays with a company, a larger share of his/her business is likely to come to the company. Due to the closer relationships developed over a period of time, the company can understand the needs of the customer leading to greater customization of products which command price premiums.

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

    From May 1, nine new business units were each made responsible for product and business development within a defined market segment. This allowed Nokia to optimise its activities in these vertically focused areas, while continuing to achieve broad economies of scale from horizontal functions such as application software development and the company's market-leading demand-supply network.

  2. Research Methodology.

    You are buying experience, sensitivity, insight and interpretative skill rather than a mechanical technique.This is why we have to be very careful in choosing our researchers as they need to be completely non biased and shall note only in the way the respondents react .

  1. Telemarketing Project

    (Please see Figure 2.3) Not all companies sales cycles include each individual step. In some cases, a few may be combined into a single step. But the organization is engaged in selling to business or in selling to consumers, most if not all of these steps in the sales cycle are involved- individually or in combination, and are incorporated into the act of selling.

  2. Amstrad Plc a business overview.

    They have to be innovative. There is always new products coming out. They will have to always do marketing research to keep up, and come out with new products. This is very important with competition from the Far East and new companies trying to copy them.

  1. Skinclad Ltd - overview and recommendations

    Current political and economic issues could concern whether or not Britain may be joining the Euro which may or may not have adverse affects on import and export legislation as well interest and exchange rates. For example (Wanna Argument:The Euro, http://www.bized.ac.uk/stafsup/options/argument/arg2.

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

    to identify which products the customers in my target market spend the most money on. I have used the questionnaire results which I collected to learn that most of my target audience spend the most money on foundation. I gained this information from my results because 40% of my customers

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