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Market research - The business I have chosen is an internet caf. This is not an ordinary internet caf because I have modelled my business on an internet caf that has games installed on the computers.

Extracts from this document...

Introduction

Introduction The business I have chosen is an internet caf�. This is not an ordinary internet caf� because I have modelled my business on an internet caf� that has games installed on the computers. This is what I think sets my choice apart from others. The aims of my business are to provide a good service and to make a profit, I will achieve this by setting my prices at a low price but not too low. The closest competitor to my business has high prices. I have chosen this business because I have a personal interest in computers and computer gaming. I also go to a similar business that provides similar services. Another reason is there is the only one real competitor in the areas I am thinking of locating. My coursework purpose is to evaluate and recommend a marketing plan to help the opening of a sole trader that will be successful in Central Harrow or South Harrow. The areas I am going to look at are two separate areas that are quite close to each other these are Central Harrow and South Harrow. There are only two competitors in Central Harrow, and only one of them has the same business structure. In South Harrow there are also two competitors but none of them has the games that I am willing to provide. The secondary research I am going to use is a census report to see what population numbers of my target market is in these two areas. The primary research I will use is questioners to see what games my target market will like, I will also do street interviews to my target market to see what areas will be easier to use and also games they like. I will take all this information analyse it, evaluate it, then I will make a conclusion on what area to choose. ...read more.

Middle

Competitor Survey- From the competitor survey I saw what my closest competitor's prices are, what games were most popular, what kind of computers will be good for the games and what specifications they need to be good enough to play the games. This research was useful because it can help me to see what my competitor is doing wrong so I can fix it in my business and also use the things they are doing right. I am gong to use this information to help buy my computers within a certain specification, help with the networking, and know what the benchmark for my price plan was. Census reports- from the census reports I found out 1,338 people out of the 10,632 are in my target market of teenagers. This research will be useful so that I know that I should expect quite allot of people in my target market walking past the shop or even going in. I am going to use this research to estimate the number of customers I get a day. Observation charts- from the observation charts I found out that an average of 8 people per second walk past the plot were I want to place my business, and on the total it was 1,080 people who walked past my plot in one Saturday (10am-9pm), and an estimate of 75% of these were in my target market. This could also help me with an estimate of how many people I should expect on a Saturday. I collected this data by handing out and asking my questionnaire, I went on the harrow government website for the census reports, I actually went outside the land I want and counted the people and I went to my competitor to fill in my competitor table. In my questionnaire I asked 25 people, in my observation chart I counted 1,080 people. The sampling method I used was Quota; I used this because it is more accurate and has more accurate results and I used this when I was giving out my questionnaire. ...read more.

Conclusion

This could be a bad thing because I am only a sole trader. This could be a bad thing because I may not be able to fund the promotion for too long. But if I manage to fund it for a while then it might attract allot of business. My pricing strategies are penetration pricing and competitor pricing. I will use penetration pricing for the first years and then switch to competitor. My prices are going to be lower than my competitors. Their prices are- 30minutes=�2 1hour=�3 3hours=�5 I think these prices are too high so I have changed them to- Half an hour = �0.50 1 hour = �1 2 hours = �1.50 3 hours = �3 This price plan was the most recommended on my questionnaire results. I need to be aware of the copyright legislation that protects the games from being copied onto the hard drives of the computers. The financial costs I need to be aware of are the cost of the computers I am going to buy, a storage space for the snacks and a safe way to secure the computers, whilst trying to keep the buttons accessible. I will be extra sure to make the computers are safe, because they will be expensive and at my competitor a computer was stolen. I will have to be careful of marketing legislation as well. I think my business will be a success, but after a couple of years when it has become established in the market. I am not expecting the business to make a profit in the first year, or even the first two years. I am just hoping to brake even by the second year. I think my business will be a success because I have no competition, only from one business. But my prices are lower then theirs and we will have the same products and services, and according to my research and own experiences customers will prefer the cheaper option. My biggest weakness may be my promotion. I am not sure whether it will work or not. ?? ?? ?? ?? 1 ...read more.

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