Description of the Business Shoe Fly will be a sole trader business that will be involved in the marketing of shoes. Our business will provide footwear for different age groups. Marketing is the process of by which a product or service is introduced or promoted to potential customers along to (wry. Smelliness’s. Com). Our small business will be financed by personal savings. It will be a part of the fashion industry. The heart of our business success lies in its marketing, without marketing our business sales will crash and our company may have to close.
Shoe Fly Company Limited will be located in the centre of Echo Iris, on ocean village plaza. Organization of the Marketing Department Our business will use the line staff organizational structure Marketing Manager- The marketing manager is responsible for the marketing of chocolate; researching and reporting on external opportunities and developing guidelines. Sales representative – The sales representative in Shoe Fly will be employed to represent our business and sell our merchandise.
Don’t waste your time!
Order your assignment!
Call representative – Our call representative will be responsible for answering inquiries; resolving problems; fulfilling requests and maintaining database. Marketing representative – The marketing representative will sell products on behalf of our company. Market Research The purpose of the market research is to gather data on customers and potential customers. The data collected will help Shoe Fly in our decision making. Our managers therefore need to ensure that our Shoes satisfy all of the customer needs.
In order for customer satisfaction we need to identify how we can go about finding potential customers therefore Shoe Fly thinks that targeting the whole population will be a good decision. NBC has chosen to target the young population. NBC decided to target our customers by niche marketing which encompasses all activities in which a business engages to attract and establish long-term relationships with customers comprising a small segment of the total population The age groups are: 3-14 years 15-25 years Price In order for the business to be successful, prices must be considered.
Of all the aspects of the marketing mix, price is the one which creates sales revenue, all the others are cost. The price of a product is clearly the determinant of the value of sales made. Researching consumer’s opinions could also help us in setting a price range as hey could indicate how much they value what they’re looking for and what they would pay. Due to similar companies exporting into my country NBC will have to make sure that our pricing strategy will suit the consumers.
Competitors There are 5 supermarkets that sell the same product. The pie chart below shows the market population held by these cereal manufacturers. Substitute Substitutes are a threat to any company. FPC is going to present discounts to regular customers. This will most likely make customers choose our products over the competition. Sales forecast The table below shows a sales forecast for FPC products.