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Set Up A Business Coursework Essay

1770 words - 7 pages

Task 1The idea of this coursework is to imagine that we are setting up a new business in the local area. I have decided that I am going to start a music shop that will sell a wide variety of instruments but will specialise in guitars. It will be located in an Woking because it is not in direct competition with a similar shop, but is a sensible location that is visited by lots of people. In Woking, I could place my shop near other facilities in the music genre e.g. Recording studio, Sheet music shops. The shop will sell a wide variety of musical instruments (specialising in guitars), sheet music, recording equipment and effects. The main competitors in the immediate area would be:ABC Music - Esher"We have been advising and supplying musicians with instruments, sheet music, accessories and repairs since 1967 and were one of the first music companies to have a presence on the web" - www.abcmusic.co.ukBrittens Music - West Byfleet"We sell a wide range of musical instruments, sheet music, CDs and DVDs, instrument accessories and music gifts." - www.newingtons.netEarth Music - Kingston"Earth Music specialise in good quality used hi-tec and recording equipment, guitars, PA and amplification effects and accessories as well as drums and percussion" - www.earthmusic.uk.comwww.playrecord.net"The UK's Online Musical Instrument Shop"This is an Internet based business that can deliver around the world.Action PlanTask 牋牋牋牋What I have to do 牋牋牋牋What info needed 牋牋牋牋Where will I get info 牋牋牋牋Alternative sources1 牋牋牋牋Create an action plan and write an introduction to the work 牋牋牋牋Knowledge of local market and knowledge of product shop is selling 牋牋牋牋The sheet 牋牋牋牋Internet, yellow pages2 牋牋牋牋Define "target market" and "marketing" 牋牋牋牋Definitions, author, title, web site address, person 牋牋牋牋Books 牋牋牋牋Own knowledge, internet3 牋牋牋牋Draft, word process and carry out a questionnaire牋牋牋牋Questions 牋牋牋牋The people I interview 牋牋牋牋4 牋牋牋牋Research, define Primary Research牋牋牋牋Why this information is needed and what Primary Research means. 牋牋牋牋Questionnaire牋牋牋牋Internet, Books5 牋牋牋牋Visit shops similar to mine and interview manager 牋牋牋牋Name, aims, services and target market of the shop. 牋牋牋牋From the questions asked 牋牋牋牋General knowledgeTarget Market - The term target market is used because that market- that group of...

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