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Starting a music shop called Musalicious.

Extracts from this document...

Introduction

Action Plan In this Course work I will be starting a music shop called Musalicious. I will get my information to start my shop from Primary and Secondary research. I will do this because I would get a better idea of the products I will sell, the gap in the market and how much I would sell them for. I need to conduct a questionnaire to find out what sort of music I should sell and what age group I should advertises to. So that when I do advertise it would appeal to the age group that I chose. I am doing questionnaire because it easier to record and make graphs and charts then just asking people random questions. If i do not find the information I need then I will then interview or rewrite the questionnaire so that includes more questions that will help me. Definition of marketing. 'The total of activities involved in the transfer of goods from the producer or seller to the consumer or buyer, including advertising, shipping, storing, and selling.' (http://dictionary.reference.com/) Target market. Target market is the market segment to which a particular product is marketed. It's often defined by age, gender, geography and socio-economic grouping. My Target Market My Target Market will be Teenagers which ages between the ages of 13-18 years. It will be to mix gendered teenagers so I can appeal to a wider range. ...read more.

Middle

I could have also asked people to sample my product, but that would not have helped because I do not have a product for people to sample. Charts & Graphs This Pie Chart shows that 50% were male and 50 % were Female. This is good because its gives me a result fairly between males and females. This graph shows the age of each person that took my questionnaire. There are more 10 to 16 year olds because I wanted to focus on teenagers but there are also some older people so I could see there opinion. This graph shows that a mixture of all types of music is most popular so I shall stock a mixture of different types of music so I can meet customer's wants. This is for Product out of the 4 P's. I found out that people would be willing to pay �1.10 - �2 on a CD with 2 - 3 songs on so I shall price my CDs roughly around that price. this is for Price out the for P's. This Graph shows that a high percentage read the national news papers so when I advertise I should place an advert in a national newspaper. This is for Promotion out of the 4 P's This shows that I should have a website and a small store then I should have more customers and I will save money by having a website then a bigger store. ...read more.

Conclusion

Advantages. * My store will be the only one in Crawley that stocks Mp3s. * My store will open the community to a new way of buying music. * It will be specialized for teenagers in Crawley. Disadvantages. * My Store will not be the only music store in Crawley which can be bad for business. * The community might not like the idea that its specially for teenagers. * Over shops are well known and customers might prefer to go to a shop that is more known. Advertising. Definition: the act or practice of calling public attention to one's product, service, need, etc., esp. by paid announcements in newspapers and magazines, over radio or television, on billboards. To place an advert in the Crawley news it will cost �100 for the first week then if you want it for the second and third week it will cost �75. Then it will be a rate of �40 each week after the third week. To put a small advert on the back of a parking ticket in all the NPC car parks in Crawley it will cost �1000 Start up cost then �350 monthly cost. Adverts. Pros. :) Has the Well known HMV logo on (Top Right) :) Has how to contact them ( Bottom Right) :) Has a welcoming message at the top Cons. :( Dose not show what they sell :( Only talks about gigs and signings :( Pictures of Young Adults could put older people off. ...read more.

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