Questionnaire
- What is your age?
12-14 15-17 18+
- How often do you go to rental shops?
Every Day
Every Week
Once a Fortnight
Once a month
- What do you come to rent?
Videos
DVD
Games
Accessories
- How much do you spend when you come to a rental shop?
£2.50
£5.00
£7.00
£10.00
£10.00+
- How far would you prepared to travel in order in to get to the shop?
6 miles
7 miles
9 miles
12miles
Other
Questionnaire Results Analysis
I asked 20 people in the area where my company will be held and here are the results from my questionnaire.
- What is your age?
12-14 15-17 18+
A you can see the ages eighteen Above were asked more than the rest the reason being they were my main target audience because they can buy everything in the shop unlike twelve year olds can only get movies and games that are certified to be for twelve year olds.
- How often do you go to rental shops?
Every Day
Every Week
Once a Fortnight
Once A month
Out of the twenty people I asked the majority would come and rent every week this information gives me a good idea of how long I should let the rentals last for example 3 nights, 4 nights and so on.
3. What do you come to rent?
Videos
DVD
Games
Accessories
These results tell me that the consumers prefer to buy DVD’s than to buy games and videos so this section of information tell me that I should provide the company with more DVD product than anything else. This also should show me that I should make the DVD’s more expensive than the videos and games.
- How much do you spend when you come to a rental shop?
£2.50
£5.00
£7.00
£10.00
£10.00+
This graph shows more people intend to spend £5.00 in a rental shop show this should give me a rough idea of how expensive I want to charge the consumer. I will make the DVD the most expensive because they are expensive to buy and the public prefer to buy DVD’s than anything in renal shop.
- How far would you prepared to travel in order in to get to the shop?
6 miles
7 miles
9 miles
12miles
Other
The Public think that they will only be able to travel 6 miles and to me I think that is fine because it covers a lot of estates and neighbourhoods which means I should get a lot of customers.
Location
The location of where my shop will be held is in Tottenham hale, London. I have chosen here because there are a lot of people in this area. There are a lot of shops in this location which draws people here, there mostly people from different areas that come to shop here. When you get to Tottenham Hale shopping centre it has a big sign which the consumers cannot miss it displays all the shops that are held there clearly.
As you can see in the map there is a station which is right next to the shopping centre, this will help customers come to my shop because it’s a way of transport to get there. At the station there is a bus stop which again helps customers get to my shop. At the shopping centre there is also free car park for the customers which help because customers with cars can come can park and come in my shop for as long as they want. The car will draw customers to the shops.
At the shopping centre there is another video; DVD and game rental shop there so they will be my competitors. The company is called Blockbuster Videos ©, in true fact the company is better than mine and well know name for how successful it is but although it’s a big company people opinion might be that its not such a good company so my intentions are to persuade all the people that my company will have far more to offer and will be a better company. I will put a ramp for disable people so that they have easy access to my shop as well as every one else.
Legislation
The legislation acts that applies to my company and I have to follow them because it’s the law. There are more than one types of law, the main ones are:
- Health and Safety work Act 1974 law says that employees are responsible for the safe use of equipment, following safe practices and wearing any protective clothing if needed, this is very important to the company, here are examples of thing that can go wrong at the work place relating health and safety: Eyes: Dust and poor lighting, Head: falling Objects, Ears deafness when working with loud noise for long periods, Mouth: breathing dust and gases and many more.
- The Trades Description Act 1968 and 1972. It is an offence to give a false description of goods. It also means that the country of origin must appear on the labels of imported goods.
Supply
To get my videos, games and DVD’s I will need to buy it. It will get it from a wholesaler which will send me all the videos, games and DVD’s in a package. This would advantage because it would be cheaper and they will have all the latest facilities.
Floor Plan
I have made a key for my floor plan above and you can see that I have devoted more space supplies for films because it’s more popular to the customers. I have also put a large space for the supplies area and it is organised so that it is easy to find what you’re looking for. I will use top quality shelving, although this may cause a problem financially the strength of it is that it will last longer in the long term and it will make my shop look more attractive.
Marketing
The four P’s are the factors involved in marketing a product, which can be grouped into four main headings Product, Promotion, Place and Price. I will explain what each mean.
In order to market my store I will need to advertise and promote my shop to the pubic within and without the area. This should help my sales rise. The Advertising strategies that I will consider from choosing are TV, the Press, radio and Direct Mail. Television has a big emotional effect to the viewers and has a very wide audience but the disadvantage towards TV is that it is really expensive and viewers often turn off or switch channels when adverts come on. The press is a good way of advertising because its easy targeting your audience but the downfall is that ads in the press are sometimes unread and ignored. The radio’s advantages are that it has a low cost and the targeting is relatively easy the bad thing about having radio is that they have a small audience listing to the radio. The direct mail good points are that you can have pinpoint targeting but it has might be recognised as being junk mail. The advertising strategy I am going to use is the local news paper because It a good way to start advertising a new shop because of the expenses. When my company get bigger I would like to use the TV advertising method instead because then my company will known across he nation.
The price is the price of the product that I will sell them for. I will sell my DVD’s for £3.00, this is a good and reasonable price and it also beats Blockbuster Videos because they sell there for £3.75. I will price the Videos £2.50 because it is not very popular and more people intend to buy DVD’s because of the quality, this price also beats Blockbusters. The product is the Video games, I will be charging the customers £3.00 because it is really expensive in shops but I still think this price is fair because it beats blockbusters. In my shop you can only rent for up to 3 days and if you want an extension by 1 day you pay an extra 75p. When you’re over due and you have not paid and extension you have to pay a £1.40 penalty a day for games and DVD’s, when it is a video you pay £1.25.
The product must satisfy the needs of the customer. In some ways the product is the most important of the four P’s because without it there could be no price, no promotion and no place. Many businesses now believe that high-quality product which provides good value for money is the main key to marketing success.
The place is where the DVD’s, games and videos will be sold. The product will be sold at the shop in an easy location for the customers to get reach of. This is important for the life cycle of the product. I am going to buy my premises and this is a problem because I have to raise the money but to sole it I will get a mortgage. I am going to buy my premises but an alternative would be to rent it instead.
Bibliography
These are the websites and programs I used to get my information from:
This is the Fireworks Program that I used to make my logo for Engmann Rentals. It did not take me long to make the logo but I thought it would be nice to make a logo for my company.
I used Google in my coursework to help me with the things I never understood in book for example Legislation.
I used multi map to help me find the location of where I wanted my shop. This site gave me the opportunity to view images of street that my shop will be held at.
I used this text book to help me. I used this text book more that any of my resources so the really help me understand everything for example the text book played a big part in helping me with my marketing section.
I also used my notes from class that we done in both earlier and recently in the year to help me with places I’m stuck in. For example for types of companies such a private limited companies. And so on.
The things that I could have used to help me with my coursework that I never used were watching and taking notes from a business studies video cassette or DVD.
Financial Effects
A financial effect is break even. Break even is the point reached in a business after which its activities begin to become profitable. I will calculate my break even to find out what quantity I need to sell to cover the cost.
Age
Age would be an important thing for my shop because I am renting Videos, DVD’s and game and every film and game has age certificates so I have to make sure the people who under the age of 15 cannot rent a 15 certified films or game. Another thing to the age section is that people’s ages have different taste for example the majority of age of 60 and upward would not go and rent an hardcore action film so we need to have targeted aims for each age group.
Action Plan
Evaluation
The social effects my business will have is the way in which by opening my shop I will have to employ people to work daily in providing a service to my customers as my business is a tertiary business. By having to employ more people I am opening up more jobs which in effect is providing the public with jobs which they wouldn’t have had without my business. Environmentally my business won’t do too much harm but to prevent any damage to the environment I will recycle the unwanted plastic and use recycled plastic, this should help the environment.
I think strength and advantages of my business are that has a lot ways for customers to reach my shop because there is a central train station, a bus station and the taxi station. The disadvantages of my company are that the competitors we have I very popular to the area and the city so it will be hard for us to achieve unless a long period of time.
The things that I could improve on the business would be a larger product range depending on how successful the business is. It would be very good idea to have a wide product range to compete with my competitors blockbuster videos such as selling a larger range of DVD’s, game, videos and also promoting them more often.
Company Logo
I will have this logo on the front of my shop so that is look attractive.
