Question: Visit three independently owned small retail establishments in the same
Visit three independently owned small retail establishments in the same industry or business. What target market(s) does each appeal to? How are they different? If you were a member of their target market, why should you shop there? Using some of the resources in our secondary research area, what new information from your research about the industry that the small business owners can use to improve and enhance what they are currently offering? Or how they are promoting their business based on the latest trends within the industry?
Relevant Questions1. Why do you think a YouTube video worked better than a professionally done infomercial? 2. How were Dr. Bob and Jeffrey able to get so much done for so little money? How could you apply this in starting your own ...What products could be sold in vending machines that currently are not? What about party sales? Use the filtering process and consider the steps you would take in trying to resolve the dirty car problem. What does this tell you about the product, price, promotion and location of your potential new business? Visit your school’s library or your local public library and investigate the reference section. Make a list of resources that might be useful for opening a new dry cleaning business. What are the three most important functions (think cash, accounts payable, owners' equity, etc.) that a computerized accounting system should have? Why are they the most important?
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