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For my GCSE business studies I have to make a portfolio investigating two contrasting businesses -Tesco and Richer sounds.

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Introduction For my GCSE business studies I have to make a portfolio investigating two contrasting businesses and also collect information like: a) What each business does, its aims and objectives, the type of ownership and location and with each of them I have to compare both businesses. b) The purposes and activities of the functional areas of any chosen company. c) How the different areas of each business communicate. d) The external influences, including reference to competitors, economic conditions and environmental constraints. And so I have to divide my portfolio into 4 parts. The two companies I have chose is 1) Tesco - supermarket 2) Richer Sounds With these two contrasting companies I will be doing all the 4 parts of the portfolio. In this part of the portfolio I will talk on what each business does, its aims and objectives, the type of ownership and location and with each of them I will compare both businesses Tesco Activities Tesco sells all types of grocery's, non-foods, clothes and electrical items and some more kinds of products. It basically has everything what a newsagent has (even more than a newsagent). When the Tesco's first started it only had all types of food but now days they also sale electrical items and clothes and also toys for the young ones. Recently Tesco has focused on developing the brand into non-food and now stocks electrical items, home entertainment, toys, sports equipment, cookshop and even lighting and furnishing in many of its larger stores. Tesco also has its own brand on non-food, including value and finest ranges Tesco's competitors are J Sainsbury, Asda and Somerfield but it mainly competes with J Sainsbury and also tries attracting more of their customers by collecting the Sainsbury vouchers. Tesco's main customers are their local residents and mainly middle-class people which weekly purchases products off Tesco. Tesco says, "For us our main customers are Kids," as they make their parents to go shopping Ownership Tesco is a public limited company (plc), ...read more.


3) Point-of-sale - is responsible of keeping their stores all clean and tidy plus making it look interesting and lively. This also includes the flooring, lightening, posters, fixtures and fittings. Whereas design is responsible for the creation of POS materials The Richer Sounds website is the responsibility of marketing this includes every area of the website such as: - The design - and to make sure it reflects the Richer Sounds image - Sending out email and newsletters on the company. - Checking the navigation - Check the content is up to date and that it should include all the latest deals and offers - Analysing the use of site Key Customers Before Richer Sounds only sold audio separates and so at that time the key customers were identified as only male aged 16 - 30. Today it has so much improved in technology wise and so they now sell to a fare wider range of customers - both male and female of all ages A. The needs of our key customers Their key customers want: - To buy excellent value, known manufacturers and reliable products - Accurate and truthful information that the sales person tell them - Friendly customer service - To shop in a clean and nice environment Most customers rather like to visit the place then ordering it from the web or mail order, because they like to try out the products and see the products them selves B. How we know the needs of our customers The company constantly has market research, which helps them to know the needs of their customers. - They analyse all the questionnaires given back from there customers which were given to them at a purchase of a product - Richer Sounds obtain all the key information about their customers - They receive direct feedback on all the customer comments from their stores - They ask their customers how they heard about them How we meet our customer needs Richer Sounds aim to do this in the following ways: a) ...read more.


Particularly when the colleagues are working till late in the stores and it is past 9'oclock then all the products should be turned off and no noise should be made within the store B) If a customer wishes to listen to a system, they use a special demonstration room which is all sound proof so that they can prevent from other customers getting distracted C) They also include warnings about the noise in their in-store catalogues - D) All the old midi systems received by Richer Sounds will not be scraped but sent off to the charity. Richer Sounds also give a part exchange to their customer's if they wont to sell their old midi systems while purchasing a new hi-fi separate systems E) Richer Sounds tries to keep all the waste to minimum level - which also includes paper as well as energy such as heating and lightings. They also check that all the computers and photocopiers are all switched off at the end of the day as well as all the products for sale F) In the warehouse Richer Sounds use electric fork lifts to prevent pollution. Improvements on external influences in Richer Sounds Business Competitors All their competitors like Dixons, Comet and Curry's are well known plus they are much bigger to Richer Sounds therefore most customers will think that it will be better to go in a big store as they will find what they are looking for and so like that Richer Sounds loose customers for that reason I would say to try and find a larger places and build a larger store Economic conditions I think that Richer Sounds have good views on Economic Conditions and they are well prepared if the interest rates rise Environmental Constraints Richer Sounds are environmental friendly in all ways, but the operations department should try and limit the packaging on a product plus make the packaging in a such way that the product can be put back inside it which also prevents less waste and the product cannot be damaged after its packed. 1 ...read more.

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