The aim of this assignment is to devise a marketing plan for a new business

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The aim of this assignment is to devise a marketing plan for a new business. My plan will be about a new business, a new era hat store called ‘Flo Fitted Fashion’. I will make decisions about marketing, which will hopefully help my business to be successful. This business will include the 4 P’s (product, price, promotion and place). I will be selling a variety of hats, Sox, New York, Boston, L.A, A town and many more. The next things I will do for my business is introduce sales and promotions. For my media advertising I will be using newspapers, radio and or magazines.

Business idea

My business is a fitted hat store. It is going to be huge I am going to sell the latest new era hats for the right price I am going to have many logos e.g. New York, Atlanta, A town, Sox, Compton, Boston and many others. I decided to pick this business because I find it very interesting and I know many different things to do with era hats. I hope my business will become a success and I would learn something from this experience. I wanted to do something different because it gives me more of a challenge.

My target customers are mostly teenage boys because they wear fitted hats more then girls and old people. The ages for the hats are 13-25, but people who are rich or poor are most welcome to come to the store.

This business is going to be a very wealthy business I think I will make a lot of profit and I even have a lot of money from the start. This business is quite new because I have made it into a big store but other businesses are shops. So in my opinion it is new. We have to watch out for our customers and see if they top any service that we provide.

As part of our service is we will give a discount therefore if someone buys three or more era hats we will give a certain percentage off. We will also give a voucher worth £40 on era hats. Whatever happens we will top our competitors and still try to make profit.

Business Ownership

My business is a private limited company (PLC).

I am a sole trader in my business this is because:


  • I like working for myself.

  • It is my responsibility for me to chose what hours are flexible for me to work.

  • I get to choose whether the people who interview are right for the job.

  • I get to choose how the store looks.

  • It is simple for my business to get a loan from the bank.

  • I can leave whomever in charge if I am not present.

  • Limited liability


  • It is a big responsibility.

  • You have to fire people, which is a hard thing to do.

  •  Sole traders are very hard to set up than a partnership.

  • It takes a lot of time to set it up.


Business objectives

My objectives are:

  • To make lots of profit.

  • Sell as many new era hats as possible and make more people come to the store.

  • I want advertising so people know about our business.

  • I want all customers to be happy and don’t want any complaints.

My objective in the coursework is to get a good grade and to do the best I can. I also want to learn something and remember this if I become a successful businessman.

My objective for the future is to build a bigger store and import more and expensive hats from other countries. I want more advertising so it can be on TV, radio, newspapers, billboards and posters. I want my business to be everywhere because then people know what a good business we are running and more people will come and buy our product, even people from foreign countries. The main thing is that I want it to be a franchise.


My business is going to be located somewhere which has a lot of space. I want to locate it in a busy and a place where people go mostly. It is a huge store so it is too big to be in a shopping centre. The place where it is going to be located is staples corner just opposite Brent cross

The significant advantages are there will be a big car park jus outside the store. They can still park their cars if they are not going to the store. The price of the car park is very low. The car park will be open for disabled people too so they wouldn’t get left out. It will be open for mostly the whole day 7.00am till 10.00pm the same time as the store closes. The population will be very successful as the store is placed in a very popular location. Next to the store is a restaurant, a bus station for people who travelled far if they don’t have cars. The community is very helpful and not a very rough or dodgy so it is kind of a safe place to be. The characteristics are it is a good transport link not the best but it will do. The disadvantages are it is a busy place and people rush too much and are very tired in the evening when they come from work.  

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Sources of finance

I can obtain finance from the bank, my own money, and a grant. I only obtain finance when I need to and that is when I’m coming close to becoming bankrupt, when my ...

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