A new business
I have chosen to investigate the suitability of a small record shop, which sells Records, CD’s, Rave Tickets, Record bags and Mixing equipment in my local area (Leytonstone). I have chose to investigate this, because there are no existing places like a record shop of any sort in or around my local area and also mixing and being a Dj is becoming more and more popular with people of my age group. Even some girls want to become Dj’s.
I am Dj myself and go on pirate radio, and know were to get records from and known what people my age want because they are my age. I also produce music and put it on vinyl, which also could be sold, in my record shop. The closest record shop was in Cannhall But it was closed down recently so, the closest record shop is in Walthamstow. I think that my record shop would be successful because there is hardly any competition.
Leytonstone High Road is the main shopping area for people who live in Leytonstone so I think that it would be a suitable place to base my shop. I have chosen to use market research in my presentation because it will enable me to see who will buy my product, to find out how much my customers will pay for my product, where the best place is for my shop in Leytonstone, what kind of advertising will be most effective for my type of business.
For promotion I am going to look at advertising because for this type of business that is all I will need to do for promotion because my shop is located on the high street and for local people it is the main shopping area in Leytonstone, so they would see it all the time and also I would not look at for example, Public Relations because it would cost to much money, and that type of promotion would not be suitable for my type of business.