A Business Proposal Essay

1020 words - 5 pages

A Business Proposal Introduction

Alexandra Palace is owned and controlled by the Haringey Local
Authority. Over the years Alexandra Palace has had two devastating
fires and as a result, has had to spend a large sum of money to
rebuild certain structures. It is a fact that Alexandra Palace is
losing a lot of capital each year. The cost of keeping it running
seems to be more than any gross profit made.
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The aim of this piece of coursework is to create and present a
business proposal for Alexandra ...view middle of the document...

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'Spreading the Word' using Promotion:

Businesses need to communicate with their customers. Using promotion
they allow their product to be noticed and sold. There are 4 basic
points to promotion:

1. Making customers aware that the product is for sale.

2. Telling or explaining to them what the product is.

3. Making customers aware of how the product will serve their needs.

4. Persuading them to buy it for the 1st time, or to buy it again.

Using television adverts, billboards and newspapers, businesses can
use slogans and trademark images to send a message to their customers.
This is all part of promotion and it usually leads to customers
purchasing the product. Businesses spend thousands of pounds promoting
their product.

Selling in the right Place:

Services and Products must be in a suitable and convenient place for
them to sell. If someone decides to sell clothes inside a bakery it is
unlikely that they will sell a lot. Customers would only go in there
for food, not for clothes. Somebody selling on a busy high street has
more chance of making more money than somebody selling on a quiet
alleyway. Products must be conveniently and suitably situated, ready
for a customer to buy when they are looking for it.

Marketing:

These 4P's are also known as 'The Marketing Mix'. Businesses nowadays
must be effective with their marketing. They must ensure that their
market research and promotion is accurate in order to have a
successful product. They cannot afford not to get their marketing
right, because it can prove very costly in the end. A business would
prefer to be in a 'sellers market'. This is the market where customers
have little choice, so they usually buy the product or go without it
(which is unlikely). A 'Buyers market' is a market, which has a lot of
competition. This market consists of a number of businesses trying to
sell a similar product. Businesses must be 'Market Orientated' when
part of this market. A business must provide a product or service,
which is profitable for them, and satisfies their customers needs.

Alexandra Palace: It's History

Alexandra palace first opened in 1873 as 'The peoples Palace'. It
provided the Victorians with a great...

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