Draft A Report Highlighting "An Operational Business Plan For A New Retail Business"

Guidance for the report

Write a 2,500-word report that sets out an operational business plan for a new retail business in a retail sector selling goods of your own choosing (but specifically where products are purchased from suppliers and then re-sold and taken away by the public as is usual with a shop, i.e. with production and consumption not undertaken in the retailer’s establishment as in a services operation like a restaurant, café, hairdresser, etc.).

It is expected that you will utilise use of headings, subheadings and paragraphs as appropriate to make your work have the necessary meaningful breaks, aesthetically pleasing and easy for the reader to follow the report. Please use relevant sources to support your argument, do not make irrelevant statements or unsupported statements. Use the Harvard referencing system.

Primary research is NOT required, your report should be based on secondary sources. For example – journal of retailing, journal of marketing, marketing journals, local Norfolk business website(s), databases such as MarketLine Advantage and FAME, Statistic, local business and trade books, retail week etc.

A structure for the report is suggested below but you are free to be creative and present it differently as well so long as you cover the ground of what is being asked for.

Basic structure and guidance:

Title page, contents page, introduction, conclusion, reference list and appendices are essential features.

1.Title page

• Name of your Retail Outlet
• Student Number
• Word Count
• Module title and Module number

2.Contents page

• Headings and sub-headings, page numbers
• Details of figures and tables, numbers and page numbers
• References
• Appendices

3.Executive Summary (should be on a separate page)

4.Introduction

• A brief introduction setting out the purpose of the report (keep the information relevant).
• Look up the coursework outline. Give the reasoning why the following report shows that the business is/will be viable? (look up the marking grid: viability of the business is important. Random retail outlets which will have big question marks on viability though written well will receive low marks).

5.Gap in the market and rationale for choosing the retail format and location

• Succinct outline of why you chose the product lines by considering nature of the market, market trends and competitor analysis….What is the gap that you have opted for? Why? Viability? …if yes…why viable? Show relevant stats and research to make your case and not just statements which could be just your opinion! Opinions not enough.
• Retail formats and look of store/retail image… and why the chosen one is relevant (look up lecture slides, read up the relevant chapter in textbooks - both Gowrek and Rafiq.
• Location analysis. Study relevant lecture on retail location and which retail location theory is of relevance in this case. Justify the location of your store.

6.Present an understanding of the competitive environment

• Positioning of the company (including how it will be different to existing competitors and generate sufficient revenue to make a profit)
• Facts and figures

7.Retail Operations

• The 5 S’s and how it impacts on your store operations (we have spoken many times about this. So you know what to do).
• Explain each with relation to your business

8.Retail Image and Promotional Strategy

• Explain the above in terms of your store
• You can make use of diagrams and even those you can generate yourself in terms of looks of the store via apps
• Loads of opportunities to make it interesting

9.Merchandising, and supply chain management

• Opportunity to apply concepts and learning from the module
• To develop a credible strategic plan for the retail business
• Briefly cover merchandise, supply chain management…any theories discussed
• Show your knowledge and understanding

10. Pricing structure to be adopted for ‘a viable business’

• Why pricing is important for your operation?
• What would be your strategy and why?

11.Micro marketing techniques

• What are these and why being adopted
• Plenty of opportunities to show your knowledge