INVESTMENT IN NEW BUSINESS STORES

Investment in New Business Stores: The Case of JS and Co

Table of Content

INTRODUCTION3

INVESTMENT IN NEW BUSINESS STORES: THE CASE OF JS AND CO3

P1) Assessing the implications of different sources choosing the appropriate source of finance for the business3

P2) Explaning the importance of financial planning describe the information needs of different decision makers describe the impact of finance on the financial statements8

P3) calculate unit costs and make pricing decision using relevant information assess the viability of a project using investment appraisal techniques9

P4) Describing the differences between the formats of financial statements for different type of business13

CONCLUSION17

REFERENCES20

Introduction

The company offers a variety of fine foods from European breads and pastries, sensational meats and seafood such as live lobsters to homemade sausages, fresh fruit and vegetables, gourmet cheeses and an eclectic selection of wines and liquors. As the company has prosperously expanded, it is essential for JS and Co to remain current in their marketing strategy. An overview will be provided identifying the importance of marketing research as it aids in marketing strategy, offer recommendations regarding JS and Co in which more market research that is extensive may benefit the company and analyze the role in which competitive intelligence and analysis impacts the company's marketing strategy.

Investment in New Business Stores: The Case of JS and Co

P1) Assessing the implications of different sources choosing the appropriate source of finance for the business

Marketing Research is a five-step process that defines as “the process of defining a marketing problem and opportunity, systematically collecting and analyzing information, and recommending action.” (Kerin, Hartley, Berkowitz, and Rudelius, 2006) The five steps involved are: Step 1 Problem Definition: It is essential for JS and Co to identify their research objectives clearly by composing detailed specific questions that address and further define the problem. By placing themselves in the customers' position and experiencing the gourmet grocer by drafting possible customer scenarios. JS and Co research objective is how to gain customer loyalty while expanding profitability, research questions may include:

•What does the customer like about gourmet food shop? The answer is selection, location, staff, décor and layout, costs, etc.

•How is the customer experience when interacting with the staff? Is the staff knowledgeable and friendly?

•Is the selection adequate to the customers' needs and where are the concentrate sales?

•What is the common interest of the customers who shop there, i.e. amateur gourmet cookers, organic and fresh food seekers, wine connoisseurs, et cetera?

•How frequently does the customer visit the store in a week? Month? Six months? Year?

•How much time does the customer spend in the store and where is their concentrated area of focus?

•Could the check out or search inventory, inventory-stocking process be stream lined?

•What are the customer demographics? Once an extensive series of questions and scenarios have been compiled, selecting the type of research is next - exploratory, descriptive or casual researches are the three types. Based on the objectives of JS and Co, the company should opt to pursue a mix of exploratory and descriptive research based on the area of ...