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Paper 2322: Coursework

Extracts from this document...

Introduction

George Plant Candidate Number: 3417 The Bishop's Stortford High School Centre Number: 17201 GCSE Business Studies Specification B (OCR GCSE 1952 Coursework) Paper 2322: Coursework. Submission date: December 2007. "Would it be profitable to set up a new pub/restaurant in the Bishop's Stortford estate of St Michaels mead in 2008?" Contents Page Page 1 - Title page Page 2 - Contents page Page 3 - Introduction Page 4 - Data Collection - location Page 5 - Data Collection - Questionnaire Page 6 - Data Collection - Graphs Page 7 - Data Collection - Graphs Page 8 - Marketing Mix - Price Page 9 - Marketing Mix - Price Page 10 - Marketing Mix - Place & Product Page 11 - Marketing Mix - Promotion Page 12 - Page 13 - Page 14 - Page 15 - Page 16 - Page 17 - Page 18 - Page 19 - Page 20 - Page 21 - Page 22 - Page 23 - Page 24 - Page 25 - Page 26 - Page 27 - Page 28 - Page 29 - Page 30 - Page 31 - Page 32 - Page 33 - Page 34 - Page 35 - Page 36 - Page 37 - Page 38 - Page 39 - Page 40 - Introduction I think that a pub in St Michael's mead is a good idea because it is a place to socialize and have a good time; wealthy men and families will be able to sit down and have a nice meal. There is no local place for people that live in the estate to go at this moment in time, I think that a new place would be a good attention point for the locals and would the new place to socialize and have a night out. ...read more.

Middle

Cost Plus Cost plus is a way of pricing your products depending on how much you spend on accumulating the product, including the cost of how much it would be to store the product and how much you will have to pay in wages to get the product sold. The price that will be charged would be a little over the price of the product, this way you will be making a profit. Demand Based Demand based would be trying to work out how much you could charge the customers for the certain product; this would be the maximum amount that you think a customer would pay. This way of charging may not be the best for a pub because the customers would feel like they were being ripped off seen as there would be other pubs in the area selling the products for a cheaper price, this would lower the interest that potential customers would have in the business. Competitor Based Competitor based is the pricing method that goes on how much your competitors are charging you would price you products just under what your main competition is so the customers would come to you and not them, this will mean you get more sales but not as much profit per product sold. The price you would charge would not be constant either; it will need to change as you competitors do. Penetration pricing Penetration pricing is a way of pricing to boost the amount of sales, this can only be done by lowering all of the prices much below the competition has got their prices. ...read more.

Conclusion

I have full confidence that there would be enough business coming from the homeowners of the local estate. PROMOTION As I have said above I am not planning for this pub/restaurant to attract customers form all over town because this will spoil the atmosphere. To make the locals aware of the business I will advertise its arrival as a new restaurant in the local papers and send out. The leaflets would cost me about �100 for 1000 and then I would have to either pay someone to hand them out around the estate or do this myself, if I was going to get someone to make the deliveries for more I would pay them 5pence per leaflet, this would come to �50 so overall to get my pub/restaurant known throughout St Michaels Mead it would cost �150. If I was going to advertise in the paper it would cost me an added �35 for every week that it is in the paper, I would leave it in there for 3 or 4 weeks just so I know the bulk of people know about it, this would cost 140. I hope that the first customers would be happy to advise my pub to their friends and family, this would also help get the business known to more people. Being told about something by a friend or family would be much more persuasive than any leaflet or advert could ever be, this is why I am going to make my pub a very welcoming place to start with and have many offers/promotion prices to draw in the potential customers. ?? ?? ?? ?? George Plant 1 GCSE Business Studies Coursework ...read more.

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