Unit 4 P4 Small Business
Business Studies Controlled Assessment
My small business introduction
A brief description of my small business.
My small business is a local business that is located near its potential customers on Nags Head Road, Enfield. This small business is a small off lenience that it is a sole trader however it does have two employees working for him regularly. A small selection of the products/services are that it provides for its customers if things like bread, sweets, drink, alcohol and a key meter that allows you to put money on the key, which then provides the customers with electricity for their homes. Another thing that this small business provides to the customers is that it allows them to top up their oyster card for them to travel …show more content…
Tesco also provide the same products to the customers but at a lower and cheaper price attracting more. Moreover they have a massive product portfolio giving the customers more of a chose. Furthermore they attract to all ages from young children to seniors.
Lick’n Chick’n
This also small business is located right next to Tesco’s. They happen to be an indirect threat to my small business due to them not selling the same products and services as mine. However they sell chicken and chips and burgers etc., which are cheap and fill people up and attract them. This business attracts customers by making deals not like my business as they attract customers using posters on their windows using bright and bold colors to attract the customer’s eyes.
Asda
This business is located on 67 High Street, Ponders End, Enfield, EN3 4EF and they just like Tesco, big competitors with similar products and a wide product portfolio. Asda compared to Tesco have more cheaper products which is a threat to my small business and they may be out of business if big companies like Tesco and Asda decide to set up more of their business nearer my potential customers.
SWOT analysis for my small …show more content…
Promotion is the method of advertising the business uses to communicate around in the local area, trying to get customers to come into their shop and buy their product/services. The type of promotion my small business uses to attract its customers are thing like big images and posters on the big windows of the shop and another cost free one is the word of mouth which is good for the business as it gets the business recognised . Also it promotes to make people aware of the shop presence and to stand out from its competitors with its products and services. However using the promotion word of mouth can also be a really bad thing as customers could be telling their friends that they had a bad experience at the shop which will stop them from coming to the business and spending their money.
The cost of my small business’ promotion budget.
During my conversation with my small businesses entrepreneur I think that roughly they spend around a year £200 but however this is just an approximation from by knowledge that I have gathered from the questionnaire that I have asked him to fill out.
Method of promotion Advantages
My small business introduction
A brief description of my small business.
My small business is a local business that is located near its potential customers on Nags Head Road, Enfield. This small business is a small off lenience that it is a sole trader however it does have two employees working for him regularly. A small selection of the products/services are that it provides for its customers if things like bread, sweets, drink, alcohol and a key meter that allows you to put money on the key, which then provides the customers with electricity for their homes. Another thing that this small business provides to the customers is that it allows them to top up their oyster card for them to travel …show more content…
Tesco also provide the same products to the customers but at a lower and cheaper price attracting more. Moreover they have a massive product portfolio giving the customers more of a chose. Furthermore they attract to all ages from young children to seniors.
Lick’n Chick’n
This also small business is located right next to Tesco’s. They happen to be an indirect threat to my small business due to them not selling the same products and services as mine. However they sell chicken and chips and burgers etc., which are cheap and fill people up and attract them. This business attracts customers by making deals not like my business as they attract customers using posters on their windows using bright and bold colors to attract the customer’s eyes.
Asda
This business is located on 67 High Street, Ponders End, Enfield, EN3 4EF and they just like Tesco, big competitors with similar products and a wide product portfolio. Asda compared to Tesco have more cheaper products which is a threat to my small business and they may be out of business if big companies like Tesco and Asda decide to set up more of their business nearer my potential customers.
SWOT analysis for my small …show more content…
Promotion is the method of advertising the business uses to communicate around in the local area, trying to get customers to come into their shop and buy their product/services. The type of promotion my small business uses to attract its customers are thing like big images and posters on the big windows of the shop and another cost free one is the word of mouth which is good for the business as it gets the business recognised . Also it promotes to make people aware of the shop presence and to stand out from its competitors with its products and services. However using the promotion word of mouth can also be a really bad thing as customers could be telling their friends that they had a bad experience at the shop which will stop them from coming to the business and spending their money.
The cost of my small business’ promotion budget.
During my conversation with my small businesses entrepreneur I think that roughly they spend around a year £200 but however this is just an approximation from by knowledge that I have gathered from the questionnaire that I have asked him to fill out.
Method of promotion Advantages