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

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Introduction

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.

Middle

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.

Conclusion

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.

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