GCSE Business Studies Coursework - Produce a Marketing Plan for a small Retail Business

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IIGCSE Business Studies Coursework

Produce a Marketing Plan for a small

Retail Business

Introduction

In this piece of coursework I will produce a marketing plan for a new small business setting up in the local area, which will face competition from other larger businesses. I have selected a Golfing accessories outlet as my small business. It will be set up in Diss. It will sell a range of quality golf clubs, golf bags, golfing clothes and other accessories at a low price. It will sell male and female clubs, clothes and bags. There will be cheaper 'second-hand' clubs for people on a lower budget and there will be less cheap better quality clubs for more serious golfers. There will also be an ordering service a delivery service and a 'Try Before You Buy' service.

        This store is unit shop because at the moment I am only planning to establish one. It is in the Tertiary sector as it sells finished products and provides a service. I will have competition from Diss golf clubs 'Pro-Shop' as it is the only other golfing accessories shop in the area. Also people have been buying golf clubs and accessories from the Internet under the impression that they will be cheaper. My business will be run as a sole trader business, so therefore I make all the decisions and keep all the profit. I only plan to employ 1 or 2 people because there won’t be much work to do.

        Before producing the marketing plan I will carry out market research to find out what types of Promotion and media would be most effective for my target audience. I will use primary research such as questionnaires and interviews. Also I must explain the laws, which will affect my business, such as the 'Trade Descriptions Act’, which states that products cannot be incorrectly described, and the 'Consumer Credit Act'.

        The Aims of a Marketing Plan.

        Possible Aims Include: -

•        To become the 1st choice shop for customers in the local area.

•        To at least break even after the 1st year in business.

•        To be able to afford to sell clubs cheaper than any other rival in the area.

•        To become the main stockist of the very best, brand new clubs in the area.

•        To increase the market share of the business per season for the 1st year.

•        To eventually be able to employ a teaching professional and give lessons for a price.

•        To make a profit.

A Swat Analysis for I.G.S (inexpensive golf supplies)


Advertising Media

There are many ways of advertising my new business in the local and regional area. These include: Television, national newspaper, regional newspaper, magazines, cinema, radio, posters and the Internet. There are many advantages and disadvantages, which will help me, decide which medium to use.

  Television is very expensive if you want an advert that many people will see. It also covers an unnecessarily high area of England that would not get my company more custom for the large amount of money spent. Television does have benefits though, the adverts can be attractive and the point can be re-enforced by continuous adverts.

  National Newspapers are also relatively inefficient for a small local business such as mine because the area they cover is too large and they are quite expensive. The adverts are rarely in colour and would cost a lot if they were, they and also only static pictures with no movement or sound. A good point is the papers can have details of the product, and the adverts are relatively cheap to produce.  Regional newspapers have many advantages such as advertising in the local area for a low cost. This means that more customers-to-be will read your adverts per pound, than if you were to advertise on the television or the regional paper. Disadvantages may be that the reproduction of the advert may be of poor quality that would lead to a poor public opinion of the standard of the products I sell.

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  Magazines have a large audience that would not be useful to me considering the amount of money I would be paying for an advert. Again there is no movement or sound, which limits me to pictures and writing. Colour advertisements are possible with magazines, which add a classy look to the advert. Also another large advantage is that you can advertise in specialist magazines which relate to what your shop sells so you limit the amount of people you advertise to who aren't interested in buying golf supplies. Also people are more likely to keep past magazines than past ...

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