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In 1957 the Common Agricultural Policy (CAP) was outlined by the then six member states. The main reason for the Common Agricultural policy was to make Agriculture a self sufficient entity in The European Union.

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Introduction

Introduction: The aim of this coursework is to use economic theory and explain how supermarkets in my area compete for custom. To provide a fair competition, the four dominant super markets, Sainsbury, Asda, Tesco and Morrisons are chosen. I shall investigate how the 'big four' compete for profit against each other in Leicestershire. Research Plan: To prevent complications the class is divided into 4 groups according to their local supermarkets and accessibility. Each student is provided a price check list with a complete list of common items and compares each different supermarket's product listing. This is the basic plan but comprehensive analysis and research techniques shall be started later on as we familiarize with economic skill and business brain of these clever large firms. Competition Theory: The medium in which a monetary exchange on a basis of business values takes place is known as The Marketing System or The Marketing Industry. Now The Market is such a place where buyers and sellers meet (outdoor/indoor) to exchange goods and services for a monetary value. The Buyer is actually the customer, consumer or the general public. In the U.K. Market is more defined as a place of competition, where survival of the fittest is the only necessary skill. A market can be an opportunity for success or a road to downfall. There are two kinds' major kinds of businesses in a market that are Product Orientated Businesses and Market Orientated Business. ...read more.

Middle

* Secondly I am using the rule of market segmentation through which my questionnaire can include categories of Age, Income etc. Accuracy and Error Prevention: I must be extremely cautious on the ways I ask the chosen questions. * One has to be not too direct but not completely blunt either. For Example when questions are directly asked like," Can you afford this product?" or "Would you buy our product instead of Tesco's?", the customer would likely say, "Yes I can afford it and I may buy it." As he/she does might feel insulted/degraded saying, "No I can't afford it." Or may say," Yes" not to offend (the questioner) you. * Questionnaires must be kept simple, meaning short easy questions. * One cannot expect the customer to give detailed answers. So, Multiple Choice Questions (M.C.Q.s) are designed where the customer simply tick or circles according to choice. * Straight forward! No more than 12 questions. * Another point I myself have predicted is that try not to make the consumer nervous or degraded, for instance I know I felt weird when this lady in town was asking questionnaires and was talking as if she's my mum and then even ticking the answers for me herself!? * My point is that public who answer the questionnaires would rather do it when you yourself are not around. (Anyone would) I feel awkward when someone stands right behind me waiting for me to finish, more like an exam. ...read more.

Conclusion

For Example: If in response to 10% the fall in price of good, the quantity demanded increases by 20%. The price elasticity of demand would be 20% / (-10%) = -2. So, the P.E.D. is negative; Background for Supermarkets in the United Kingdom: The UK supermarket sector is dominated by Sainsbury, Asda, Tesco and Morrison's, which are the only chains which operate full scale superstores of 40,000 square feet (3,700 m�) or more. They are all fully national; there are no regional supermarket chains left in the United Kingdom which operate superstores, just a few small ones which operate smaller stores. The "Big 4" had a combined share of 74.4% of the UK grocery market in the 12 weeks to 24 April 2005 according to retail analysts TNS SuperPanel Tesco is becoming so dominant (its market share passed 30% in mid 2005, nearly double that of second placed ASDA) that it is beginning to be seen as being in a tier on its own, followed by three runners-up. Somerfield is the fifth largest United Kingdom food retailer, as verified by Wikipedia Encyclopedia but it does not operate superstores. In February 2005, the Baugur Group, which is already the controlling minority shareholder of the Big Food Group, parent company of Iceland, made a takeover proposal for Somerfield. At least one other party has since made a counter offer. Marks and Spencer and Waitrose are the most upmarket national supermarket chains (although the former is also the UK's largest clothing retailer, and is often not perceived as a supermarket at all). They trade from medium and small sized stores. ...read more.

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