Starting a new business - marketing

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Contents

Contents Page No.

Action Plan 2-5

Introduction

.1 Marketing Definition 6

.2 Business Ideas 6

.3 Background Research 6

.4 Factors affecting success 7

2 Market Research

2.1 Sources of Market Research Information 8

2.2 Customer Questionnaire Design 8-9

2.3 Analysis of Questionnaire Results 9-11

2.4 Competitor Analysis

2.4.1 Competitor 1 11-12

2.4.2 Competitor 2 12

3 Marketing Campaign

3.1 Promotional Methods 13

3.2 Advertising Methods 13-15

3.3 Costings 15-16

3.4 Legal Contraints 16

4 Conclusions and Recommendations 17-18

5 References 19-20

6 Appendices

6.1 Appendix 1 - Draft advertisement 21

6.2 Appendix 2 - Customer Questionnaire 22

6.3 Appendix 3 - Competitor Secondary Research (Costa coffee) 23-24

6.4 Appendix 4 - Competitor Analysis 1 (interview questions) 25

6.5 Appendix 5 - Competitor Analysis 2 (interview questions) 26

Action Plan

What do I need to do?

When? (Date)

What Information do I need?

Where will I find the information?

Alternative Sources?

Changes to Plan

Action Plan

- Fill in 'What do I need to do?' and 'When?' coloumns for Action Plan, Introduction and Market research.

In Monday 1st March lesson

A plan for each lesson of my project

Looking through coursework plan.

No alternative sources.

Not all finished. 'What do I need to do?' and 'When?' columns not completed for Market Research

- Complete the 'What do I need to do?' and 'When?' columns

In Wednesday 3rd March lesson

A plan for each lesson of my project

Looking through coursework plan.

No alternative sources.

Completed work set for today started tomorrow's work.

- Complete all other columns of the action plan

In Thursday 4th March lesson

A plan including where I will find the information I need

Looking through coursework plan.

No alternative sources.

All work completed

Introduction

- What does 'Marketing' and 'Marketing campaign' mean?

- What factors need to be considered when planning a marketing campaign?

In Monday 8th March lesson

Definitions for 'Marketing' and 'Marketing Campaign', the factors needing to be considered by companies when planning a marketing campaign.

'Huggett' GCSE business studies textbooks

AS Business studies textbooks, Marketing books, my own business studies exercise books.

A little bit more work needed to be done on the second bullet point in next lesson. Reference page started which will be filled in as I use sources

- What type of retail business are you going to set up?

- Which customer segments are you targeting your business towards?

In Wednesday 10th March lesson

Need to find a type of company I would like to study and set up a similar business to. Look at the customer segments I'm aiming my business towards.

'Huggett' GCSE business studies textbooks

AS Business studies textbooks, Marketing books, my own business studies exercise books, yellow pages/ Thompson directory

Completed these two sections and started the two sections needed for next lesson. Will look over the work from today and improve it in next lesson.

- What factors will affect the success of your business? (at least 2 must be discussed, not just stated)

- What information will you need to find out before you open the business?

In Thursday 11th March lesson

Look at factors which affect business success. Look at how businesses start up and what information they need to know first such as law.

'Huggett' GCSE business studies textbooks

AS Business studies textbooks, Marketing books, my own business studies exercise books.

Completed this work and started Market Research section (completed first two bullet points)

Market Research

- What is the purpose of Market Research?

- What is the difference between Primary and Secondary research?

- Critically compare different market research methods and suggest when each method would be most appropriate.

In Monday 15th March lesson

Explain purposes for market research. Definitions for Primary and Secondary research plus differences. Compare different market research methods & where each would be useful.

'Huggett' GCSE business studies textbooks

AS Business studies textbooks, Marketing books, my own business studies exercise books.

Completed this work and started my questionnaire.

- Design a questionnaire to find out about your target market

- Why have you chosen to carry out a questionnaire? (Why will it be useful?)

- Describe the different ways you could PRESENT the information from you questionnaires (e.g graph/table)

In Wednesday 17th March lesson

Questions for my questionnaire and a professional layout. Advantages of using a questionnaire. A list of different ways to present information

'Huggett' GCSE business studies textbooks

AS Business studies textbooks, Marketing books, my own business studies exercise books.

Completed this work and started getting people to fill in my questionnaire

- Record & illustrate the results of your questionnaire (use tables, texts, graphs)

- Summarise the results of your market research - is it the same or different from the results you expected?

In Thursday 18th March lesson

The information from my questionnaire, a summary of what the results show.

My previous work on the questionaire

Look through my business studies exercise book at previous questionnaire summaries done in lessons.

Questionaire not compete yet, instead I wrote up my interview ready to conduct before next lesson

Competitor Analysis

- Make a plan of interview ready to interview a shop similar to the type you have chosen.

In Monday 22nd March lesson

A set of questions ready to ask a shop

Sample interview questions in coursework plan

AS Business studies textbooks, Marketing books, my own business studies exercise books.

Interview already planned and conducted. Instead I recorded the results from questionnaire and interview.

- Interview shop either by phone or by visiting them.

- Write down everything they say.

For homework between Monday 22nd March lesson and Wednesday 24th March lesson

Need pen and paper ready to record everything they say

From the shop either by phone conversation or directly.

No alternative sources

Already done on Thursday 18th March.

- Write up in lesson what the shop has said.

In Wednesday 24th March lesson and Thursday 25th March lesson

Need the information I have recorded from the interview

My recorded conversation information

No alternative sources

Wednesday - wrote up results from questionnaire

Thursday - completed this task

Marketing Campaign

- What is the purpose of the PROMOTION part of the marketing mix?

- What is the difference (at least 2) between above the line and below the line promotion?

- Discuss the methods of advertising and promotion your business could use (which methods would be most/least appropriate for you type of retail business?)

In Monday 29th March lesson

Definition and explanation of promotion, plus why it is important. Information about above the line and below the line promotion. Methods of promotion with definitions and why they would/wouldn't be appropriate

'Huggett' GCSE business studies textbooks

AS Business studies textbooks, Marketing books, my own business studies exercise books.

Completed first two bullet points.

-Find out the COSTS of different advertising methods available to you

In Wednesday 31st March lesson

Look at websites for: Local radio, MK web, The Citizen newspaper, Thomson Directory, Yellow Pages, TV etc to find prices for advertising

Telephone or email some of the companies who provide advertising.

Finished last lesson's work and got a few costs (MK web, Citizen and Yellow pages)

- What does the Advertising standards authority do?

- How will the ASA Code of practice affect how you advertise your business?

- Is there any other legislation (laws) that you need to be aware of?

In Thursday 1st April lesson

'Huggett' GCSE business studies textbooks

AS Business studies textbooks, Marketing books.

Completed last lesson's work and this lesson's work

Conclusions

- How are you going to advertise/promote your business? (at least 2 methods)

- For each idea, describe at least 2 strengths/ 2 limitations of it and make 2 decisions about how it will be done.

In Monday 19th April lesson

Two methods of promotion suitable for my business. Strengths and limitations of them and decisions about how it will be done.

'Huggett' GCSE business studies textbooks

AS Business studies textbooks, Marketing books, my own business studies exercise books.

Completed in lesson

- Why have you chosen these advertising/promotion methods for your business?

- Which parts of your research helped you to decide how to promote the business?

In Wednesday 21st April lesson

Look at the strengths and weaknesses previously done to say why I chose the ones I did. Look at other methods and say why I haven't chosen them. Look back at questionnaire and interview to say how I decided these methods.

Previous work within the coursework.

'Huggett' GCSE business studies textbooks,

AS Business studies textbooks, Marketing books, my own business studies exercise books.

Completed in lesson
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- Suggest at least 2 improvements you could make to the overall Marketing Campaign

- How would these improvements help the business in the long-term?

In Thursday 22nd April lesson

Look at my overall marketing campaign and how certain improvements could help the business

My previous work on the coursework, looking especially at the Marketing Campaign

'Huggett' GCSE business studies textbooks,

AS Business studies textbooks, Marketing books

Completed in lesson

Final Checks

- Type up the REFERENCES page

- Check that each section of the report has ...

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