Activity 1
Introduction
Marketing is where you satisfy customers, anticipate, and identify whilst selling goods and
services to help a business make a profit. This is very beneficial for qualitative and quantitative
data to be evaluated, understood, and diagnosed to take the right action to make the company
you are selling more effective. Wax Perfection is a record shop in the local town that currently
sells vinyl records and associated products such as CDs and USB s, second-hand albums and
also goods such as t-shirts, posters, record players and cleaning products. Wax Perfection is
looking to attract more customers and increase brand awareness to generate more sales for the
store, so, therefore, they have hired me to carry out a marketing campaign to help them meet
the aims they desire.
Marketing Aims and Objectives
Aim: Increase Brand Awareness
Objectives:
● To create a website for Wax Perfection by hiring an expert to do so and then
boosting the website in the google searches by hiring an SEO expert by January
2021.
I have chosen to do this objective because it increases brand awareness as a website will be
there for a wide range of different people to access. This website will increase the amount of
customers Wax Perfections will receive as it will increase the number of customers the company
can reach as the internet is used by millions around the UK. In addition, the website will also
encourage consumers to shop online so they have the hassle saved and are more likely to
purchase the products because of this. The website should be created by February the 1st as
this is a suitable time to hire someone who can create an attractive and functional website.
Furthermore, the SEO expert should have the website by the 2nd of March to work with and the
SEO expert will be finished by April the 1st 2021. The SEO experts goal is to improve the
website search rankings on Google; This will make the website higher in the search rankings so
more people will see it, thus attracting new customers and making it easier for current
customers.
● Create a Facebook page and hire someone to run ads from the Facebook page by
January 1st 2021
I have chosen this objective to meet the aim of increasing brand awareness because it is a
fantastic and modern way to advertise the business and build brand awareness. The advertising
campaign for the Facebook ads should be aimed at students in the local area. This is so a new
demographic would be inspired to get purchase the items sold by Wax Perfections. The ads
should concentrate specifically on university students within a 30-mile radius of the Wax
Perfections store. The period I have set is suitable because it gives enough time to create an
attractive Facebook page and start running the ads from the 1st of January.
Aim: Attract More Customers
Objectives
1/9
, ● Have a different band play at the store or outside the store every week to attract
customers.
I have chosen this objective because it will provide the brand image that we want potential
customers to think of Wax Perfections and will also attract customers walking by to come and
have a look in the store as it is unique that a band would be playing outside of a store. The
bands will be a topic of conversation for individuals and as a result, will encourage more clients
to come and attend the show. As customers will be looking to spend some more Christmas
money on new items, the bands will perform every Friday from January 1st, so customers will
be more likely to come and shop.
● Offer a promotion that will increase happy customers
I have chosen this objective because it will be great for attracting customers. Wax Perfection
should offer a promotion where if a friend that you refer buys a vinyl player from Wax Perfection
then you and your friend will receive a free cleaning kit for a vinyl player. This promotion will run
from the 1st of January until the 1st of March. I specifically picked this time because it is after
Christmas and many customers will be looking to spend some money.
Research Data and Analysis
Market Size
The volume of sales for Vinyl records reached 4.1 million units in 2017, which marks the 10th
consecutive year that the sales have grown in the vinyl industry. The number of vinyl record
sales suggests that there was an estimated total sales of £80 million. The market size for the
vinyl record is highly seasonal as during Christmas time the demand goes up by 25.8% of sales.
The increase in sales over the last ten years points to a constantly growing market that is not
slowing down any time soon. For Wax Perfection, this is excellent news as it means their profits
will continue to go up if they are successfully leading this marketing strategy. In addition to this,
32 million CDs were sold in 2018, showing that because of their success and how they produce
a large number of sales, Wax Perfection can sell CDs as well as vinyl.
Market Share
The market share for vinyl in the UK has continuously grown in the last 13 years. Once again
suggests that the market is continuously growing and future profits are to be made. The market
share for vinyl in the UK for 2019 was 6.2% of the overall music industry income.
Market Structure
A large number of vinyl stores sell B2C meaning that they sell their products to the customer
instead of to other businesses; these companies tend to be local such as BackTrack records
shop sell locally around Southampton. However, vinyl and record shops on a much larger scale
will sell B2B (business to business). This creates more competition for local record shops as
they will not only be competing with the local business but also now they will be competing with
other huge national or even international businesses. Wax Perfection would adopt a B2C
structure and sell to their local customers or ship their items to customers around the UK. The
vinyl market is niche however Wax Perfections are trying to break into the mass market.
Competitors
2/9
Introduction
Marketing is where you satisfy customers, anticipate, and identify whilst selling goods and
services to help a business make a profit. This is very beneficial for qualitative and quantitative
data to be evaluated, understood, and diagnosed to take the right action to make the company
you are selling more effective. Wax Perfection is a record shop in the local town that currently
sells vinyl records and associated products such as CDs and USB s, second-hand albums and
also goods such as t-shirts, posters, record players and cleaning products. Wax Perfection is
looking to attract more customers and increase brand awareness to generate more sales for the
store, so, therefore, they have hired me to carry out a marketing campaign to help them meet
the aims they desire.
Marketing Aims and Objectives
Aim: Increase Brand Awareness
Objectives:
● To create a website for Wax Perfection by hiring an expert to do so and then
boosting the website in the google searches by hiring an SEO expert by January
2021.
I have chosen to do this objective because it increases brand awareness as a website will be
there for a wide range of different people to access. This website will increase the amount of
customers Wax Perfections will receive as it will increase the number of customers the company
can reach as the internet is used by millions around the UK. In addition, the website will also
encourage consumers to shop online so they have the hassle saved and are more likely to
purchase the products because of this. The website should be created by February the 1st as
this is a suitable time to hire someone who can create an attractive and functional website.
Furthermore, the SEO expert should have the website by the 2nd of March to work with and the
SEO expert will be finished by April the 1st 2021. The SEO experts goal is to improve the
website search rankings on Google; This will make the website higher in the search rankings so
more people will see it, thus attracting new customers and making it easier for current
customers.
● Create a Facebook page and hire someone to run ads from the Facebook page by
January 1st 2021
I have chosen this objective to meet the aim of increasing brand awareness because it is a
fantastic and modern way to advertise the business and build brand awareness. The advertising
campaign for the Facebook ads should be aimed at students in the local area. This is so a new
demographic would be inspired to get purchase the items sold by Wax Perfections. The ads
should concentrate specifically on university students within a 30-mile radius of the Wax
Perfections store. The period I have set is suitable because it gives enough time to create an
attractive Facebook page and start running the ads from the 1st of January.
Aim: Attract More Customers
Objectives
1/9
, ● Have a different band play at the store or outside the store every week to attract
customers.
I have chosen this objective because it will provide the brand image that we want potential
customers to think of Wax Perfections and will also attract customers walking by to come and
have a look in the store as it is unique that a band would be playing outside of a store. The
bands will be a topic of conversation for individuals and as a result, will encourage more clients
to come and attend the show. As customers will be looking to spend some more Christmas
money on new items, the bands will perform every Friday from January 1st, so customers will
be more likely to come and shop.
● Offer a promotion that will increase happy customers
I have chosen this objective because it will be great for attracting customers. Wax Perfection
should offer a promotion where if a friend that you refer buys a vinyl player from Wax Perfection
then you and your friend will receive a free cleaning kit for a vinyl player. This promotion will run
from the 1st of January until the 1st of March. I specifically picked this time because it is after
Christmas and many customers will be looking to spend some money.
Research Data and Analysis
Market Size
The volume of sales for Vinyl records reached 4.1 million units in 2017, which marks the 10th
consecutive year that the sales have grown in the vinyl industry. The number of vinyl record
sales suggests that there was an estimated total sales of £80 million. The market size for the
vinyl record is highly seasonal as during Christmas time the demand goes up by 25.8% of sales.
The increase in sales over the last ten years points to a constantly growing market that is not
slowing down any time soon. For Wax Perfection, this is excellent news as it means their profits
will continue to go up if they are successfully leading this marketing strategy. In addition to this,
32 million CDs were sold in 2018, showing that because of their success and how they produce
a large number of sales, Wax Perfection can sell CDs as well as vinyl.
Market Share
The market share for vinyl in the UK has continuously grown in the last 13 years. Once again
suggests that the market is continuously growing and future profits are to be made. The market
share for vinyl in the UK for 2019 was 6.2% of the overall music industry income.
Market Structure
A large number of vinyl stores sell B2C meaning that they sell their products to the customer
instead of to other businesses; these companies tend to be local such as BackTrack records
shop sell locally around Southampton. However, vinyl and record shops on a much larger scale
will sell B2B (business to business). This creates more competition for local record shops as
they will not only be competing with the local business but also now they will be competing with
other huge national or even international businesses. Wax Perfection would adopt a B2C
structure and sell to their local customers or ship their items to customers around the UK. The
vinyl market is niche however Wax Perfections are trying to break into the mass market.
Competitors
2/9
