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MKT 575 WC Opening a New Business in Downtown Detroit Research Memorandum

MKT 575 WC Opening a New Business in Downtown Detroit Research Memorandum

Question Description

Do some Zip Code/Demographic research and decide what business you would add to that city and why. Support with some numbers. Below is the tab for the Gale Database;

https://dnow-gale-com.libraryproxy.walshcollege.edu/dnow/?p=DNOW&u=lom_walshcoll

I don’t think it’ll allow you to visit this link, so I have attached pictures with results for you.

Submit a Memo on with a summary of your research.

I have done some research and added some information for you.

The Business Idea I want talked about is opening a hookah lounge that serves food in Downtown Detroit. The zip code I am working on is 48201 (Detroit, MI). There are currently no hookah lounges downtown.

The numbers show that over 60% of Households made less than 25K per year. Mention that this number doesn’t really affect us in the downtown area because we will be dealing with people from the outer suburbs coming to downtown for a good time.

Within that zip code, 43% of women and 42% of men are within the ages of 20-44.

I also added numbers on how much people like to spend on food. Keep in mind that yes, this is the city I am working on, but I am planning on locating in the Downtown area where most of my customers will be people from out of Detroit.

Please BREFILEY describe the numbers from the pictures attached.

Create a really creative idea on adding a hookah lounge to Downtown Detroit.

Then add a supporting target market (toursits coming to Downtown for a night out, Mortgage brokers in the city who want to get work done in the daytime, College Students who want to study and relax, etc.)

Colleges around the city are Wayne State University and University of Detroit Mercy

Then Create a marketing mix for the business

Then Create a promotional mix for the business.

INCLUDE DATA/STATS about the city of Detroit from pictures attached.

Lastly, ensure this MEMO convinces the reader that consumers would support this idea!

The rubric is listed below: PLEASE FOLLOW STEP BY STEP AND ENSURE EVERY POINT ON THE RUBRIC IS COVERED!

MKT 415 Demographic Database Research (Gale Database at Walsh Library)

Paper #3

The Research Includes Demographic Info on a specific Zip Code

40

The Research Includes a Creative Business Idea

40

The Research Includes supporting Target Market, Marketing Mix, and Promo Mix info

40

The Research Includes data/stats to support how the business fits the Zip Code

40

The Research Convinced the reader that Consumers would support this business idea


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