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Marketing director of a small advertising agency

Extracts from this document...

Introduction

Business Studies Coursework (Stage One: Introduction) For this project I am taking on the role of the marketing director of a small advertising agency. I have been asked to a) Carry out market research and b) design a marketing campaign to help promote a new shop that is opening in Victoria. During this project it is very important that market research is carried out in order not lose money on products that won't sell well and find the consumers wants. Using market research will benefit my business as using it can be a quick but not guaranteed way to success and will also do the following: (1) Show what the competitions like and how you compare (2) Will they buy the product (3) What kind of customer will buy the product (4) What type of promotion will be most effective (5) What is the best price that would suit an average customer The area of which the shop will be is near a few tourist attractions and will be very busy. The busiest times would be on a Friday and Saturday night at around 7 o'clock as those are days, which adults tend to go out. Being in Victoria there will be many rival competitors around. Examples of these rival food restaurants that pose competition are McDonalds, Pizza Hut, KFC and Burger King. Being the new business that it is the 4 p's has an impact on the business. ...read more.

Middle

How often do you visit food restaurants per month? 0-1[] 2-3[] 3-5[] Above[] 3) When eating fast food which do you prefer? Eat in[] Take away[] 4) Do you enjoy eating hot or cold food or both? ............................................................................................ 5) How much money do you spend at a food restaurant per visit? 0-�5[] �6-�10[] �10-�15[] Above[] 6) Are you a vegetarian? Yes[] No[] 7) When eating a meal do you drink healthy drinks? Yes[] No[] 8) Do you normally drink alcohol? Yes[] No[] 9) What is your ethnic background? (Please state) ............................................................................................................... 10) Are you familiar with any African food? Yes[] No[] 11) If given the chance would you be willing to try a variety of African dishes Yes[] No[] From my questionnaire I have gathered a series of results using a number of methods. I asked people at random walking in Victoria and put my results into pie charts and bar graphs. The questionnaire and market research has helped a lot in determining how the business should be run. The information collected will enable the business to create an idea of the products people like. Results Qs.1 What is your favourite type of food? Qs.2 how often do you visit food restaurants per month? Qs.3 When eating fast food which do you prefer? Qs.4 Do you enjoy eating hot or cold food or both? Qs.5 How much money do you spend at a food restaurant per visit? ...read more.

Conclusion

I decided to choose this because it's a cheap advertisement and there are a large number of people in Victoria who read the newspaper. I would choose this advertisement over the television as the television is nationwide, very expensive any might not get viewed by those who might be interested. I would advise my client to advertise for a lengthy period of time. Finance For the business the main worry is finance. Whether they can maintain invested money without losing it. I would advice my client to loan some of the cost to set up a business from a bank. The advantages of using your own money: - 1) You don't have any debts. 2) All profits made are yours. 3) If the business goes bust you don't have to worry about paying back the bank. The disadvantages of using your own money: - 1) You might lose all your money if the business becomes a failure. Business Plan Every business has a plan on how to run a business successfully. I would advice my client not to over price his goods and offer bargain deals so it will attract people. You need to work out the amount of staff needed and where to get these staff. The management is a major issue if it is to succeed. You need to decide whether or not it should be a sole trader, partnership organisation. I would also advise my client to come up with new products and deals every so often and decorate around the place to keep in fashion. ...read more.

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