Marketing mix assessement
At the moment there is not a lot of online stores to buy goods from well known shops so there is not a lot of competition for my store. My online store would be selling music and I would make sure that it catered for every taste of music. Consumers of a product would not have to travel far at all as this is online, they could sit in the comfort of their own home shopping online for goods that they would like to have.
My music shop would cater for every need and taste that people may have, these would include Punk, Rap, Dance, Hip- Hop, Classical and any other tastes people would like. In Chester-le-street there is only Woolworths that sells any music at all and it does compose a threat to me by any means at all, therefore there is not much competition for my shop. People who live in Chester- le- street would not have to travel far as it is a small town and not much space to have to travel, although people outside Chester-le-street would have to travel into the CBD to but what they would like.
There is no competition in Chester-le-street for a cinema therefore lots of people would go there, the closest cinema to people who live in Chester-le-street is the metro centre which is about 12 miles away so I would benefit very well if I built a cinema. I would have all the new films that have just came out so that people could select from the top names out at that moment. . People who live in Chester- le- street would not have to travel far as it is a small town and not much space to have to travel, although people outside Chester-le-street would have to travel into the CBD to but what they would like.
Snow sports Shop
In Chester-le-street there is no ski-ing or snowboard kind of shops, therefore if I was to build one I would have a large amount of customers looking for products as there is no other stores in or close to Chester-le-street. I would try and cater for all types of people from different ages but of course I will not be able to get everything that they need but I would try my hardest to get a hold of all the latest videos, clothes and accessories. My shop would be in the CBD of Chester-le-street so it is close to everyone in the region, obviously people outside Chester-le-street will have to travel into it but that is the case with everything.
I will try and get every possible video and style of videos that I can, these will hopefully include video products such as :- Manga, martial arts, action, thriller, horror, musical, sport, romantic, adult, comedy, humor, mystery, drama, series as show on TV and sci-fi. My business idea has two very large competitors (Global video and Blockbuster) which could oppose quite a threat to me as they have been their a long time and are known by many people to be very reliable to their customers and to have a very big selection of videos. Once again people from the suburbs and outside of Chester-le-street will have to travel further than those who live in the inner suburbs or CBD of Chester-le-street.
Within my gadget shop I would sell little things that can be kept for keep sake needs and gadgets and gizmos to use everyday. A few of the products that I would sell would be funny watches, funny everyday practical joke objects and all round humorous things. In this business I think it would be hard to be able to cater for everybody’s needs therefore I do not think that this would be a very good business venture.
I think a bowling alley would be a very good business idea as I think that the young people in Chester-le-street could have a place to go on a night or day and just hang out and have fun. There is absolutely no competition close to Chester-le-street for a bowling alley. To be able to get high sales I would have the prices for a game at a very reasonable price. For the more experienced bowlers who like the sport and play all the time I would have a pro shop to sell specific balls, shoes and bowling accessories. For the people of Chester-le-street it would not be very far at all to travel As it would be right in the middle of the town but for the people who live outside Chester-le-street as always would have to make a trip in town.
In Chester-le-street there is only a few night clubs so if I was to build one I think it would be a very successful business, especially if I was to play a large range of music and sell a variety of drinks. The few competitors that I would have I don’t think would appose any real threat to me as I have been told that they are not very good. Once again people outside of Chester-le-street would have to travel into the CBD and people living in Chester-le-street if they liked could always walk there.
I have concluded in my marketing mix to find a business idea to build and run and I have decided to open a mountain sports shop to sell all the latest gear in sports such as ski-ing, snowboarding and all the latest clothing and products. Not only would I just sell this equipment but I would also sell videos and instructional videos. A few of the products that I would sell would include :- skis, snowboards, clothes, videos, bags, boots and other accessories.
I have chose to build a mountain sports shop because there is not one in Chester-le-street and a lot of people like to take on the sport and cannot find anywhere to buy the products therefore I think I would get a lot of customers and sell a lot of products to make a profit.