Marketing Research

Essay by PaperNerd ContributorUniversity, Master's April 2001

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Competitive Research Our group used the local mini-mart "Ray and Mike's" as one of the four competitors in which to focus on. This mini-mart has many strengths as well as weaknesses. Upon observing this store I found out many things that will help us to form a profitable business. Like most small convenience stores, prices are expected to be fairly high as compared to a grocery store. This was such the case when looking at their prices. I believe the store has a wide selection of necessities seeing they are working with such a small space. Upon observation, I also noticed that the store was pretty well kept up when it comes to cleanliness. This mini-mart is also extended into a small deli. I'm sure the store's cleanliness has to do with the fact it also contains the deli. The employees in the store are always polite when visiting.

The store sits on a very busy street and gets a lot of business. People like to stop in such stores with quick and friendly service. However, one of their biggest flaws is parking. There is so few parking spots in the lot and I find myself sometimes waiting to even get to park upon entering. My guess is that this store loses a lot of business due to this factor.

Now knowing how some competitors are, my group realizes what is important in such stores. We know that prices could and should be high which means a good sum of profit. Also it should be kept clean to keep customers as well as attract new ones. This also pertains to friendly employees working for us. We should have as wide a variety of groceries and supplies as we can with the space we are provided, and opening a deli in the back of the store would probably boost our business if we threw some money into it!