The marketing plan
This store will be located in the United States (Miami, Florida), and the Cayman Islands in the town area. The main competitions are outlet stores such as, JC Penny, Wal-Mart, J. Michael, etc. My main marketing area will be in the Cayman Islands. My promotional activities consist of a website, ads in the newspaper, television and radio broadcast. Marketing Research When starting up a business, knowing what the people of the community thinks about it is vital information,thus I can know where to begin. In other words we conduct a market research.
A market research is accumilate, produce and examine information.with market research I will find out exactly what/who your business should aim for. There are different types of market researches. Feild research – This is research is a collection of data from new soures which means none of this data was already found. These are from costumers, friends, family, etc. Some feild research that will be used in my business are: Questionniarres/interveiws – These are sets of questions that which are used to find out the consumers’ opinions on the product/service. This serves a great great purpose, as Iwill need to find out if the particular place for your business. Interviews are the same as questionnares only asked orally.
Desk research – this research is dat that has already been collected by someone else. These datas will also be used during my business plan. Questionnaire For my business studies SBA it require us to do some form of market research to find out are the ideas with the community that are available for a certain product or business. This questionnaire is about opening plus-size clothing store for locals.
Please complete the following questionnaire thus I will know your views Writing a business plan is not easy but the point of writing one is to find out if the business has the factors to survive; which it will if the aims and objectives are followed. This business plan helped me to see if my business is up to standard as those in other parts of the world. I think that after a few years of doing my business and learning more about the business world my business would be successful.
Constructing a profit and loss account showed me that not all the time I will have a profit, but according to my figures it can result into a loss. There are not much plus size clothing stores in my country; there are some, where I choose my other areas but they fit the needs for all areas, thus my business will be successful because of my lack of major competition. The price many other things purchased for my business will rise but I think I will be able to manage once I get my plans together.