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Marketing a retail outlet

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Marketing a new retail business Name: Sohail Shah Candidate Number: 8322 School Name: Queens Park Community School Centre Number: 12304 Contents TASK ONE 2 ACTION PLAN 2 TASK TWO 3 Part A: Introduction 3 Part B: Business Objectives 3 Part C: The Importance of Marketing 3 Part D: Identifying the Target Market 3 TASK THREE 4 Market Research Questionnaire 4 TASK FOUR 5 Part A: Carrying out my Questionnaire 5 Part B: Getting my questionnaires filled in 5 Part C: Other ways of getting my questionnaire filled out 5 Part D: Different types of Market Research 5 TASK FIVE 6 Part B : Creating my charts/graphs 6 Part C: Analysing my graphs 6 Part D: What I expected from my research 6 Part E: Evaluating the effectiveness of my research 6 Part F: Discussion of how the research will affect business decisions about marketing 6 Part G: What impact will this have on my business? 6 TASK SIX 7 Part A: Competition in my area 7 Part B: Main Competition 7 Part C: Factors that influence my competition 7 Part D: Factors that influence my business 7 Part E: How my competitor will influence my business 7 TASK SEVEN 8 Part A: Types of Promotion and Advertising 8 Part B: Costs of Advertising 8 Part C: Advertising my Business 8 Part D: How advertising will affect the success of my business 8 TASK EIGHT 9 Part A: Conclusions: Final decisions on marketing my business 9 Part B: Constraints to my Business 9 Part C: Improvements to my marketing plan 9 Part D: Improvements to my research 9 Part E: Environmental, Financial and Social effects 9 BIBLIOGRAPHY 10 APPENDIX 11 TASK ONE ACTION PLAN WHAT DO I NEED TO DO? (N.B. Write in the future tense e.g. I will need to write a definition of marketing) WHAT INFORMATION DO I NEED? What do you need to find out in order to complete the task? ...read more.


This is also supported by the end result as the graph is evenly spread out over all bases. This would lead me to believe that I should provide a vast range of wines to accommodate everyone's taste at my Wine Bar. This pie chart expresses the responses given by the public when asked whether they thought that a wine bar should serve food and provide dining facilities along with its alcoholic beverages. We can clearly see that the majority of the population agreed that it would be a good idea to have dining facilities. This shows me what my target market want to see in my business and seeing as I am trying to accommodate them it would be best to listen to their requests. This graph shows the responses given by the participants when asked what types of food they most liked to eat, they were also given the opportunity to select more than one option to which most people took advantage. From the graph we can see that most people take a liking to British food and also there is visible liking for Burmese & Indian cuisine. As a wine bar owner, seeing this I would be swayed to providing traditional British food at my restaurant while having occasional Burmese & Indian nights. Part C: What I expected from my research Before I conducted my survey I had some idea of what the results I would receive would suggest. When I finally received the results I was quite surprised to see that the want for dining services at the wine bar where rather subdued, I had expected that almost every participant would like to see dining services along with the alcoholic beverages. One thing that did live up to my expectation was the demand for British Food to be served at the restaurant along with foreign dishes; I had suspected this would be the case because the area in which I am situated is a fairly prosperous and people have money to spend trying out new products. ...read more.


Part D: Improvements to my research Looking back I could have improved the research I conducted for my business by trying more than one way of getting my questionnaire filled out. This would have allowed me to reap benefits from two different methods and resulted in more accurate results. Also I should have found some more secondary research such as sales records of my competitors and financial records of the firm, this would have given me information on the size of my competitor and also an indication of the amount of customers I should be expecting in my Wine Bar so I could Purchase a premises of adequate size. Part E: Environmental, Financial and Social effects My Wine bar will be affected by the environment in which it operates, and in turn my business will implement changes in the environment in which it operates. o Environmental Effects - Although pollution will be caused by the day to day running of the Wine Bar, all the equipment we will be using will be environment friendly and up to all the required standards and as we will be serving restaurant style food we will not have a problem with litter of packaging as we will undoubtedly be using plates which can be re-used. The Wine bar is located near public transport links which encourages people to leave their cars at home so all in all adding a positive effect on the environment. o Financial Effects - The introduction of my business will not majorly disrupt the prices in the local area but it will provide job opportunities and encourage spending in the shops in the surrounding area, increasing their overall sales. o Social Effects - My Wine Bar will also bring about many Social benefits as it creates a meeting place in the community for people to meet and interact. It will also be designed to be pleasing to the eye so that it can also be enjoyed from the outside. ...read more.

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