BSBMKG501B: IDENTIFY AND EVALUATE MARKETING OPPORTUNITIES

Activity 1_4
Indy's Book Store West End Information Comparat !" mar#"t $%ormat o$ Analysis
Borders Has Wi-Fi but not accessible to the public & Install Public Wi-Fi & Charge 50c for business profit & Sell A Surf Brands &ot all but fe" Borders boo%stores sells onl# boo%s and not boo% based !erchandise these stores ha'e fe"er co!petitions and 'ouchers too$ *eaders and all interested custo!ers usuall# find "hat the# need in a boo%store b# si!pl# going to the right location$ +o a Sur'e# to see "hat the# re,uire in a boo%store store and in'est$ .pdate polic# and Procedures( ha'e guidelines and age li!its to specific handling of e,uip!ent in the store$ Ha'e per!its for the store and /HS( WHS and Certificates on the "all$ 1thical re,uire!ents of the organi)ation could be 2ualified staff or %no"ing that our business needs to ha'e "hat "e need for the store in order to run efficientl#$ 0rends4 5er# friendl#( .p to date "ith WHS 6 /HS( 7reat custo!er ser'ice( 2ualit# Products +e'elop!ents4 .pgrades in d8cor( location and popularit#$ &e" upco!ing !ar%ets are a co!petition but #ou can learn fro! the!$ Here as if it is #our o"n( ne" opportunities could arise$ Profitabilit# is based on ho" "ell "e are running our organi)ation$ But "e also need to %eep in !ind the profit that co!e in "e also need to pa# our suppliers and pa# for upgrades in the
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Value to the organisation

Custo!ers "ould "ant to sta# and it !ight intrigue the! to bu# so!ething$ Whether or not a purchase is !ade it could potentiall# !a%e the store popular$

Comp"t tor p"r%orma$'"

C()tom"r r"*( r"m"$t)

If I sell all genres of boo%s( !erchandise and fe" 'ouchers for boo% related opportunities in all our stores( the 'alue it could ha'e to the organi)ation could be increasingl# effecti'e for !ore profit and the na!e of our business could beco!e popular reall# fast$ Custo!ers are our !ain source of inco!e so it-s i!portant "e %no" "hat the# "ant so "e can ha'e that to gi'e in our store "hich "ill %eep the! co!ing and possibl# spread the "ord$ Ha'ing a sur'e# for their needs "ill benefit the business in assessing "hat the# need that "e can gi'e$ 0he 'alue to this organi)ation is that it is legal so profit "ill co!e in regularl# b# the custo!ers$ If the organi)ation ta%es the ris% to run "ithout legislation( "e ris% a huge fine or indi'iduall# a big burden$ 0he 'alue of ha'ing the right ethical re,uire!ents for the business is profitable that reason being is that if "e %no" "hat e are doing and it is running efficientl# then it "ill sa'e us fro! ha'ing to pa# !ore for "hat "e are not doing right in the business for e3a!ple the needs of the organi)ation Sta%eholder stoc%$ 0he custo!ers is actuall# ho" #ou %no" #ou are a good business fro! feedbac%$ 0he# are the !ain source of #our inco!e and if #ou "ant that profit at a sustainable le'el( #ou need to be up to date "ith the custo!ers( as for the de'elop!ents( that is ,uite profitable$ 0he 'alue of other !ar%ets is that #ou can !a%e profit off "hat the# sell or if it is #our o"n business( the 'alue is that "e "ould !a%e !ore profit for our business b# ha'ing !ore stores and upgrading the!$ Profitabilit# is profit cause that is our inco!e and if our operations and business ethics are legal and up to date( then profit "ill be !ade fro! a ,uite a fe" resources$

L"+a, r"*( r"m"$t)

Et- 'a, r"*( r"m"$t)

Mar#"t tr"$.) a$. ."!",opm"$t)

N"/ a$. "m"r+ $+ mar#"t)

Pro% ta0 , t1

BSBMKG501B: IDENTIFY AND EVALUATE MARKETING OPPORTUNITIES Pro% ta0 , t1 'o$t $(".3
possible future$

Sa,") % +(r")

&eed to !a%e sure that our sales figures are not declining but increasing( our sales figures are a !ain to the organi)ation$

Sales figures deter!ine the a!ount of profit so !a%ing sure "hat our custo!ers "ant and "ould li%e to see in our store is the !ain reason for sales either declining or increasing$ We can !a%e a lot of profit b# ha'ing the e,uip!ent and resources need to %eep the sales figures positi'el# high and the custo!ers and sta%eholder e'en the landlord satisfied$

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