• Join over 1.2 million students every month
  • Accelerate your learning by 29%
  • Unlimited access from just £6.99 per month

P4 Indentify the competitive factors in the retail environment a selected business faces

Extracts from this document...

Introduction

´╗┐Unit 29 p4 In this assignment I will explain how the retail sector response to internal and external change. I will also use a retail company to give example. The retail outlet is Batavia Stad. Retailers have no control over their external influence; this would call the macro environmental factors. Under this factor includes: 1. Changes in consumer and business confidence 2. Changes in the housing market 3. Developments in the employment levels Retailers may become successful once they look forward to these influences and react on them consequently. However, external factors should not be ignored as they pose a threat to the long term survival of an organization. A retailer macro environment could be affected by the following: 1. Changes consumers taste 2. Rapidly changing market 3. ...read more.

Middle

Batavia Stad will need to be competitive and diversify by being online in order to keep up with the competition of today. The role of Social changes : changes in social values and trends impact the goods retailers sell and how they relate them to consumers. Batavia Stad is constantly under pressure due to the fact that they have to implement social responsible business practices. Such as, environmentally friendly products. Government and social factors, somehow overlap in many areas; retailer that fails to obey the rules to new social norms. Will lose the business to companies that are willing to adapt. The role of New technologies: technologies plays a major role in changing the way retails companies do business. It does not only create new products but also advancement, such as the internet offering retail customers shopping options. ...read more.

Conclusion

Meaning that the growing economy has to come down it the production rate of goods and services was more the actual consumption. However, it also affects consumers who are fearing of losing their jobs, so they will have less confidence to spend money and buy goods. This will result in reductions in demand in the market. New retailing concepts consumers are continually looking for new leisure experiences and life changing activities. Which do have an impact on reshaping the products and service of retailing. Shops will have to continually reinvent themselves to maintain and retain their customers. Moreover, the development of shopping for a mobile population is creating a new retail opportunities. Air travels continues to rise as the number of destination being targeted by low cost airline are on the increased. Consumers are increasing the use of rail network as they buy from all convenient stores on their way to their destination, while those outlets are enjoying the increase of demand. ________________ Sources: http://smallbusiness.chron.com/role-macro-environment-retail-industry-33419.html http://www.slideshare.net/amitnanda/recession-and-its-effects ...read more.

The above preview is unformatted text

This student written piece of work is one of many that can be found in our AS and A Level Case Studies and Analysis section.

Found what you're looking for?

  • Start learning 29% faster today
  • 150,000+ documents available
  • Just £6.99 a month

Not the one? Search for your essay title...
  • Join over 1.2 million students every month
  • Accelerate your learning by 29%
  • Unlimited access from just £6.99 per month

See related essaysSee related essays

Related AS and A Level Case Studies and Analysis essays

  1. Virgin Atlantic PESTLE analysis.

    rapidly changing technology they are always aware of the need for them to invest into their aircraft fleet and while providing a more improved customer service and safety while on board for passengers to enjoy their IFE (in flight experience)

  2. BNC BUSINESS UNIT 19 P4

    Conflict generally occurs when people have different ways of working, different characters, or give different values to their own contribution to the team. If one person is likely to try to force their view on others without listening to alternatives - then I would encourage others to put forward their views first.

  1. Information System - a plan for an IS based on Boots (Boots the chemist(BHC)) ...

    Weaknesses Although international business is still growing the company is still highly dependent on the UK market. While this isn't a major weakness in the short term, if any changes in the UKPharmacy/ supermarket industry over the next year that will affect share.

  2. Unit 1 P5 Describe the influence of two contrasting economic environment on business activities ...

    In 2013 When Tesco PLC is recovering from recession the consumer are supposed to gain confidence to purchase goods for example in the article it says ?Tesco will increase the value customers can get from their club card vouchers? this indicates that they haven?t recovered from the recession because people aren?t purchasing any products and goods from Tesco plc.

  1. The international business environment of Apple Inc

    Coca cola an international business may find that these social factors may have an impact on their product which could in affect reduce the sales. Technology has become increasingly popular in the past few years. The internet especially has become a global network linking millions of computers across the world.

  2. Unit 1 P3 P4 P5 P6 Business Organisation and The Business Enviroment - comparing ...

    aim for the business is service provision, this is when they keep a record on the service they provide and how they can improve on the service. C) In order for the organisation to meet their aims to keep a record on the service that they provide they can have

  1. Unit 4 P1 explain different types of business information, their sources and purposes

    they might ring the area manager to make them aware of the promotions that Tesco PLC want to take into action so they pass it on to their span of control. They will also use tannoy announcements in store/ and radio advertisements etc, to communicate current sales and promotions Inviting

  2. Unit 32 P3 Explain how developments in the consumer market have impacted on food ...

    correct form which no product damaged on the way, as customers? expectations will be increased, since they are getting their order delivered, this means if the package is delivered in the correct state it will increase demand in future and ensure that the customers? expectations are in the mind.

  • Over 160,000 pieces
    of student written work
  • Annotated by
    experienced teachers
  • Ideas and feedback to
    improve your own work