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Marketing report for a new small business

Extracts from this document...

Introduction

1. Introduction 1.1. The Task Janice Reynolds has worked in a national chain sports shop in Harrow for several years, and is now intending to start a business of her own. She wants to start a business as a Sole Trader and set up a local sports retail outlet store somewhere in the local area. She knows that there will competition as there are other sport shops in the area, and knows the only way that she can succeed is through effective marketing for her to be successful. In this project are research and then a written report to Janice in which there will be advice on marketing the business that will include: � Where to locate the new sports shop � What sort of products to sell � What pricing policy to use � Who should be the target customer � What other competitor sports shops are doing � How to compete profitably with the existing sports shops � How to promote the new business I will also need to print out any legal constraints and the relative costs of the choices to be made. Also Janice feels strongly that profit isn't everything and that she should concentrate on what the effect will be on the local community. 1.2 Marketing Before I start the report, I will need to know what the term marketing means. Here are some definitions from different sources. The act or process of selling or purchasing in a [1]market The process or technique of promoting, selling, and distributing a product or service All from [2]www.m-w.com Marketing, process of identifying, anticipating, and satisfying customer requirements for consumer goods or services. Early marketing techniques involved little more than making potential consumers aware of a product's existence and benefits, and getting it to the market. Now, however, the marketing process starts even before decisions are taken about what products should be made^.^ ^ ^From Encarta 2000^ ^ 1. ...read more.

Middle

[image007.jpg] In Uxbridge there are two JD Sports one located in the Chimes and one outside coming off the Pavilions. JD sports are my favourite brand of sport shops. It specialises in sports clothes that are intended to be worn as fashion clothing. It sells a huge variety of foot where but also sweat shirts, t-shirts etc. Its main brands are Nike, Adidas and Reebok but also contain more. The only products which it sells that is meant for the play of sport are football boots and equipment. The staff in the shops are young and know all the right brands and are very helpful as they get paid for each sale not a set price. So they are always willing to help. It also has a very good website which used to sell just trainers but now is going into selling clothes and other items. [image008.gif] JD Sports [image009.gif] 5. Research Results 5.1 The Questionnaire To find out what kind of goods and what to sell 336 people filled n a questionnaire designed to find out what I needed to know. The response is as following. [image011.gif] This Pie Chart shows that people that answered the questionnaire mostly do their sports shopping in Uxbridge. This shows that Uxbridge would be a good location for a new sports shop. Harefield has the lowest appeal and would be the worst place to set it up [image013.gif] This Pie Chart shows the age of the people that took the questionnaire. It shows that all age groups are fairly even and not one stands out. This makes it hard to try and think of a target market. [image015.gif] This Pie Chart shows why people buy sports equipment. It is important to have in the store these goods so customers can get what they want without trouble. [image017.gif] [image019.gif] This Pie Chart shows how people found out about the shops that they use. ...read more.

Conclusion

Also id another sports shop s opened in the area other shop which might target older people will get more trade. There also will be some negative effects such as. Shops that have similarly target audience and are not doing as well will get less attraction. In terms of the local community they will be getting better quality goods and we make use of a vacant shop. 8. Conclusion There area number of issues that will determine if this shop is successful or not. First you can never tell if enough people would have heard about the shop to start with, also if enough people will come to the shop and spend money there. Also other sports shop's nearby might see Janine's one as a threat and do anything they can to make sure it gets no business. I believe that my marketing plan will help ensure the success of the shop as in it tells Janice where I think the best location for the shop is. Also I have done sufficient research on other sports shops and a questionnaire. Using all this data I have been able to find what people want in a sports shop. Is Janice uses this data correctly I believe that her shop will stand above the rest. If I look back on the original Task in section 1.1 I believe that I have achieved all of my original aims and in some case have found more. The problems that I did encounter were only the problems of investigating the competent. This was because it was hard to obtain the information from school and also hard to get information from the shop. But I finally got some figures from a past report. If I would do the report again I would change some things. Firstly I would have liked to get dome more primary research results from shops as this would have made my intestate the completion section easier. Also I would have tried to get some varied results for the questionnaire. But apart from these things I believe that the report is very affective. 9. ...read more.

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