This project requires me to produce a imaginary business.
Extracts from this document...
INTRODUCTION This project requires me to produce a imaginary business. To do this I must research into all aspects of a business, using books, people, and computer resources. To help me do this I will create action plans, that I will evaluate and redesign as I proceed during the project. The reason for the action plan is to help keep track and organise what I am doing, it also shows points that I must cover for my business to be successful. In this project there are certain parts of the project that can be decided before I created an action plan; these are: What will I sell- I will sell video games. My shop name- I will call my shop "GAMES STATION". From what I already know I have decided to make my business a sole trader operation as these are the easiest to set up. Also in a sole trader business I will get to keep all of the profits. Also as I am a sole trader business there are less regulations that I have to comply with. As a sole trader I do not have to make my business accounts available to any one except the inland revenue. This is useful as it saves me time, and it keeps my business dealings secret to the public. AIMS & METHOD The aim of my store is primarily to be able to compete with other shops in the local area. Also to break even, but provide a high quality service to the public. Then it is to make a profit. For the first year the aim of my business will also be to become a well established business, and to remain open (not be forced to close due to lack of business). Action plan This is my first action plan, that I will later evaluate and then using my evaluation I will create a second action plan. ...read more.
There are some disadvantages primarily due to there being no dedicated car park, and that there are parking restrictions. The main parking restriction is that there is no parking on certain points between 8pm and 6pm Monday - Friday, unless the customer would like to park his car in the supermarket's car park instead. The benefit of me placing my shop in the place chosen is that this would bring people into the local area to shop. This would help other local shops. [MAP] CHANNELS OF DISTRIBUTION A channel of distribution is the way that company gets its product to its customers. If the product costs a lot and few are sold then the manufacture will sell direct to the consumer. If the product is cheap and large amounts are sold, it is easier to sell the product to a whole sales in thousands, and they then sell it on. This type of distribution needs to be efficient and cheap to run. There are four different channel of disruption: Channel 1 of distribution This is the most simple method of distribution, as it involves the manufacture selling direct to its customer. This is usually impractical if you don't live near the manufacture, but that is why they ship them out. Examples of goods that are sold direct are: * Computers * Furniture * Spare parts * Books * Software The reasons for this is that if the product is quite expensive, then to lower the price they can cut out the middle man. Channel 2 of distribution This is a very common method of selling, as the manufacture sells the product to a retailer and they then sell it to the public. This is very widely used by supermarkets, or clothes. Channel 3 of distribution This form uses a wholesaler who buys the products in bulk from the manufacture, then sells to the retailer. ...read more.
the fact that they have to wait for you advert before they can watch the film * Only seen by a limited number of people Evaluation of advertising: It would be impractical of me to use television as a form of advertising, as I will only have one shop in a local area, and television is not good to advertise in the local area. Also the cost involved in creating the advert, and putting it on television is enormous. This would mean for me to run the advert more then once I would have to cut things for my business like customer benefits, and opening hours. Radio would be a better option but as I only have one shop, it is not a good method to use at this time. This is because the advert will be heard by the whole of London, buy I am only at the moment targeting at the Harrow area. Local papers are a very good method in my case, but this will depend on the results of questionnaire that I carry out. A magazine is not suitable as they are normally national. A other very good method would be adverting on local transport, as they will be seen by people in the local area. This will also depend on the results of my questionnaire. A mail shoot I think would be a good method as I can target a specific group, and it is very cheap, but this will also depend on my research. Advertising in a local cinema would be a very good method, but I because it only goes to a limited number of people I think it is not that good. Also as films are normally seen by young people, this is a disadvantages as they often have the least money. The method of advertising that I am choosing has little effect on the local area. The only effect that there is that the leaflets that are delivered are just thrown away damaging the environment. ...read more.
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