Marketing the Business
Janice Reynolds has worked in a national chain sports shop in Harrow
for several years, and is now intending to start a business of her
own. She wants to start a business as a Sole Trader and set up a local
sports retail outlet store somewhere in the local area.
She knows that there will competition as there are other sport shops
in the area, and knows the only way that she can succeed is through
effective marketing for her to be successful.
In this project are research and then a written report to Janice in
which there will be advice on marketing the business that will
· Where to locate the new sports shop
· What sort of products to sell
· What pricing policy to use
· Who should be the target customer
· What other competitor sports shops are doing
· How to compete profitably with the existing sports shops
· How to promote the new business
I will also need to print out any legal constraints and the relative
costs of the choices to be made.
Also Janice feels strongly that profit isn’t everything and that she
should concentrate on what the effect will be on the local community.
Before I start the report, I will need to know what the term marketing
means. Here are some definitions from different sources.
The act or process of selling or purchasing in a market
The process or technique of promoting, selling, and distributing a
product or service
All from www.m-w.com
Marketing, process of identifying, anticipating, and satisfying
customer requirements for consumer goods or services. Early marketing
techniques involved little more than making potential consumers aware
of a product’s existence and benefits, and getting it to the market.
Now, however, the marketing process starts even before decisions are
taken about what products should be made.
From Encarta 2000
1. The commercial functions involved in transferring goods from
producer to consumer.
In general, marketing activities are all those associated with
identifying the particular wants and needs of a target market of
customers, and then going about satisfying those customers better than
the competitors? This involves doing market research on customers,
analyzing their needs, and then making strategic decisions about
product design, pricing, promotion and distribution.
This report is to provide Janice Reynolds the information that she
needs to start her business and also the market she will need to set
up a sole trader successfully. To do this, she will need to answer the
· Where to find the new shop
· What products the shop will sell
· What kind of...