City of Four Oaks North Carolina Is Term Paper
- Length: 9 pages
- Subject: Business
- Type: Term Paper
- Paper: #36961929
Excerpt from Term Paper :
city of Four Oaks, North Carolina is involved in the planning stages of development of a new diamond interchange at Keen Road. Unfortunately, several businesses lie in the way of the design and construction of the project and must be relocated to other parts of the town. Ronnie's Place, Inc. is at the center of controversy as the business must be demolished and a new building must be constructed in another location. In order to finance the reconstruction, the State Department of Transportation must purchase the existing facilities and compensate the owner for his time, effort, and interruption of daily business. Until a fair price has been established between both parties, the owner must concentrate on other opportunities to acquire capital to construct the new facility. Furthermore, he must create and implement a suitable business plan to sustain the growth of his new business. To accomplish these efforts, the owner will utilize the four P's and the four C's of marketing:
The following discussion will provide a detailed analysis of each of these basic marketing principles in the context of the creation of the new business in Four Oaks.
The new convenience store promises to deliver a greater quantity and variety of quality products in its new location than in the past. In association with its suitable location just off the interstate, the store will offer food items such as snacks, sandwiches and beverages, gasoline, gifts, and novelties, designed for both travelers and local residents. In addition, the store will sell tires and offer tire installation for those who may experience problems in driving to their destination of choice. Other items that will provide numerous benefits to customers include farming supplies for local residents, animal feed, and hardware products. Finally, during the spring and summer months, a variety of plants and shrubs will be offered for those interested in maintaining gardens and landscaped surroundings.
All products will be high in quality to maximize the attractiveness of the business. For example, all food items will be fresh and routine merchandise reviews will be performed to remove all expired items from the selling shelves. Furthermore, many brand name products will be available for purchase, ranging from food items to hardware products. The store will also be fully staffed at all times in order to provide consumers with the best possible customer service since word of mouth may be a possible method of attracting new business. Finally, the store will implement a friendly return and exchange policy that will provide simplicity for customers who wish to return products, and a warranty policy will be available for more expensive products such as hardware items and tires.
Items sold in the convenient store will be competitively priced at all times in order to attract a wide variety of customers. On a weekly basis, sale circulars will provide customers with a variety of products listed at a sale price. Recurring sales on tires will also be in effect, with additional special promotions for purchasing more than one tire at a time. Local farmers will have the opportunity to purchase farming supplies at a heavily discounted price during harvest seasons. For those who do not have sufficient cash for payment or who choose to purchase their items in another manner, credit cards in the form of Visa, Mastercard, American Express, and Discover will be accepted on all purchases. Furthermore, since the owner will invest in a check machine to validate purchases made by check, personal checks will also be accepted with the presentation of proper photo identification. Finally, British Petroleum (BP) gasoline will be competitively priced at twelve pumps according to market trends and the availability of oil reserves for U.S. Markets.
The convenient store will utilize a number of promotional tactics to attract new and existing customers. Sales circulars will be available in the front of the store to promote items discounted for the week, and an advertisement will be posted in the local newspaper every Tuesday. In addition, once the new location has been established and the interchange has been constructed, a new road sign that clearly describes the store and its gasoline availability will be created on the interstate, three quarters of a mile before the exit ramp to encourage travelers to exit at the ramp and obtain any supplies that they need.
Another sign will also be constructed at the end of the exit that will provide directions to customers who are not familiar with the store's location. Since the store will be promoted as a 'one-stop shop' for customer needs, public restrooms will also be available for use.
Finally, for those who may experience tire trouble in their travels and must purchase new tires, while waiting for installation to take place, customers will have access to a number of comfortable seats where they can rest while they wait for their vehicles.
Since only one business location will exist, it is in the owner's best interest to clearly communicate future relocation plans to members of the surrounding community so that they are prepared to take their business elsewhere in the interim.
Once a purchase price has been negotiated with the State Department of Transportation, plans must be made to identify a feasible site near the original location for new construction. This site must be located near the proposed interchange to accommodate interstate travelers and must be easily accessible to a diverse customer base. Construction on the new site will require the employment of new contractors and the acquisition of new building permits and licenses. Furthermore, the new building and parking lot design must accommodate the standards of British Petroleum in order to construct new underground tanks, a fuel tank, and required storage facilities.
In order to maintain a successful operation upon relocation, the owner must continue to communicate the importance of all aspects of the business while in transition. As the project begins, organizational representatives must actively engage in all aspects of the business in order to minimize losses during relocation and maximize future profitability at the new location. This must include a concentrated effort to achieve the best possible price for the existing location that will be demolished to make room for the new interchange. Furthermore, the costs involved in new development and construction must be thoroughly evaluated to sustain growth.
Marketing, financial, and operational initiatives must continue to be cultivated while relocation is in progress. Marketing efforts must be concentrated on the promotion of the new store in its new location for local community residents. In order for all efforts to be successful, the owner and all employees must engage an entrepreneurial spirit in regards to the project as it is likely to produce additional opportunities for growth and to attract a new customer base. The owner has already adopted an entrepreneurial attitude by engaging in the risks involved with relocating an existing business; therefore, it is anticipated that the new store will reap great rewards.
It is commonly known that customers are the livelihood of any business. Therefore, in a delicate time of transition, it is critical that the business maintains a positive relationship with its regular customers, those that reside in the surrounding community. In the interim period, a feasible alternative to traditional business may be to provide home delivery of products to local farmers during the peak growing season. It is anticipated that development and construction will be a lengthy process, so any additional means of gaining profitability are greatly appreciated. It has been demonstrated time and time again that it is more profitable to retain existing customers rather than attract new ones.
It is extremely important that organizational representatives perform an evaluation of customer needs in the surrounding community during their transition period. This will ensure that the business will be able to provide products that will truly serve their customers. In addition, a strong commitment to superior customer service must be in place in order to maintain overall satisfaction within a large customer base. Providing products tailored to customer needs will ensure their loyalty and commitment to the firm. For example, the importance of providing additional quantities of farming supplies during peak growing season will provide farmers with the necessary resources to sustain their farming businesses. Furthermore, for traveling customers, it is important to provide such necessities as snacks, beverages, and other items that will satisfy them in the short-term. These customers are likely to be less concerned about prices and are more interested in finding the products that will make the remainder of their trip a successful one.
Although the surrounding area is not highly populated, it is important that the owner employ the best possible customer service representatives for the available positions. This will ensure that customers will have the best possible experience in making their purchases. Professionalism and courtesy are key factors in satisfying customers and gaining a loyal customer base. Furthermore, by maintaining a workforce that…