Future Shop Marketing Site Visit
Site Visit Basic Information
The name of the business I researched about for my site visit was Future Shop. The location that I visited was 2210 Bank Street within the South Keys mall, on September 23rd 2012, between the times of 2:35pm to 3:35pm
Summary Observations and Recommendations
Future Shop has an immense market which penetrates in the electronic sector. Future Shop market consists of the majority of consumers who need any sort of technology on an everyday basis. Future Shop has thousands of products throughout hundreds of brands so that the customers will be completely satisfying all their customer’s needs and wants. You have up to two choices on where you want to buy the products, in-store and online, with online even having deals and sales only available online. Inside of Future Shop all you see are hundreds of advertisements, promotions and sale items. Sign are everywhere telling you what to buy and why to buy it. Anywhere you look, you will be hooked by some sort of product. That is the real way to advertise, and the best part is all the prices are completely reasonable, at least to me there are.
The Customer
Future Shop’s target audience is a vast majority of customers and has an immense market size and is growing. Consumer would include young kids who want to buy video games, to teenagers who want to buy cell phones, to young adults who need a laptop for their post secondary studies to the elders who want to snuggle up in a corner reading their favourite book on an e-book reader. Future Shop is your one stop store for all your technological needs. Hundreds of people come in and out of Future Shop every day. Not everyone buys a product but those people tend to come back later on and buy what they were looking for from Future Shop. When you talk about technology there are multiple market segmentations from games, computers, music, movies, major appliances and many more.
There are only two ways that customers can purchase products, one being in-store and the other being online. The online option can from a computer or straight from your cell phone. Buying online is always a great way to buy your product, because you can check to see the reviews for the product all at the same time. Customers can buy and order their products online and have it delivered to their doorstep within a week, depending on the certain product. I personally would only buy small products online because, when I spend more than a hundred dollars, I like to be in the store to physically see, touch and hear the product up close so I know I’m spending my money wisely. Future Shop’s inventory turnover rate is around 5.9 which means that an average one dollar invested in stock will turn into ten times in sales, which tells you a lot about how much the company is selling.
Product
Future Shop