This is useful as the person characteristics find out what a certain group thinks, a bout any topic. My method of research- The method that I will use is random sampling in the local area. This is so that I can see what a wide range of people think and want in the local area. This is so that I get data that is relevant to me. I will use primary research, in the form of questionnaires. This is because the primary research will be accurate, and more relevant, as it is being carried out for a specific purpose. The reason that I am using a questionnaire is that it allows to gather very detailed information.
There some limitations to my research methods, the major one being that it will take a long amount of time. This is very important as this effects most aspects of my business. When I say "what market aim I aiming for? " I mean am I aiming for the ultra cheap, low end of the market or the upper end of the market. To decide I will carry out research into what markets are not catered for by the large companies, I will then cater for this market. To do this I carry out questioners or use research already carried out by a other company. I will group the people on there response to some questionnaire in social grades.
This is because this will help to create a image of the average wage, and class in the local area. Then I will cater for the group that the majority of people fit into. Market segmentation Market segmentation is a method of dividing up the market, into smaller subgroups. A example is that products like drinks may appeal to one group like young people, while a other may appeal to older men. This means that the market will broken up by age, and gender. This is very important when advertising, as different adverts will apple to different people in each group.
The most common methods of market segmentation are: Life style A married person with kids who has the same wage as a single person will buy different products. This means that the advertising for some products will be aimed at the single person. while some will be aimed at the married person. Age People of different age buy different products. This means that a old person will buy different products to a young person. Gender Certain products are only brought by males, and some is only brought by females, so the advertising targets that group.
Sometimes the a products are brought by both groups, but the advertising is just aimed at one. Region People in different areas of the country will buy different products. A person in a wet part of the country will buy clothes for wet weather, while in a dry part people wont. This also applies to when a product is exported. Income These are created depending on a person's income. The highest in the groups are the managers while the lowest are the unemployed. A products that is to aimed art the highest income group will have a high price, while a product aimed the lowest will have a low price.
This also means that the advertising campaign will be different for each group. Use of product A product can be used by domestic home users or business. This will influence the way the that the product is sold and advertised. If selling to a business then the company may go direct to the business and sell face to face. While if selling to the domestic ,market they may just sell over the phone. A product that is aimed at a business user may not be advertised on television, unlike a domestic. Instead brochures may be used.
This means that the same product could have to different advertising campaigns. Social grades What are social grades? From my research I have found that the social grade of the local area is C, and the average pay is between ? "15000-"25000. The majority of these people do shop locally, and the main reason is that the local shops do not cater for there needs. This is shows me that I there would be place for me to sell my goods, aimed at social group C. This is because of the people surveyed the majority fit into this group, so it makes sense to primarily aim for them, and then unskilled workers.
Also the shop that most of people say they shop at is out side of the local area, but they would shop locally if they had the choice. My market- The market that I aiming at is the senior administrative workers in group C, that earn around 15000-25000. This is will determine where I place my shop, and pricing. I will aim at this group as they are the group that feel there is no choice for them. I will aim for this market as it is over looked by the other major shops in the area. As I know now what group that I will primary aim my products at, I must now find a area that is made up mainly of that group.
The place where you put your shop is how you get your product to your customers, when looking for a place for my business these facts must be considered: From my research have found that the Kenton area meets the criteria as the majority of the inhabits are in group C. Also in the area there is no competition that would effect my and there is easy access to the area. My Location My location will be in the Pickering area in the market place (as shown as apendix 1) it has every thing we are looking for Parking at the bottom of the market place and turist atraction up the road i have weighed up all the odds and its the best i can find.
Planning restrictions What are planning restrictions? Planning restrictions are used to restrict where a business can build or start up. If the government says no then it would be against the law for the company to build there. What do they do? They help to protect areas to are of beautiful nature from being destroyed. They also stop factory's from opening near homes. The planing restrictions also help to bring business into areas where there is high unemployment. The government will do this by offering incentives of building in a certain area.
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