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

Supermarkets compared - Pricing Low to high pricing Quality of the product and customer service. Availability 24 hours a day, easy to get, in stock Market segmentation

Extracts from this document...

Introduction

Task D External influences are things that a business has to react to. These could be drops in share prices, prices going up for oil etc; the main areas of influence are competitors, Political/Legal/Economics and Environmental/ Social. If competitors make their prices lower but still offer the same quality then its competitors have to react to this change and lower the prices as well and try to still give good quality. If a competitor opened more shops then the other business may have to open more stores in order to stop from loosing its customers. If people consume more products are being made then the shop will loose out on sales and customers. If a company does something wrong then they may be taken to court this would be bad advertisement and they would want to keep it out of the public eye. If socially people stopped shopping and instead they started driving more then the business would have to adapt to this new fashion to keep money coming in. If suddenly it changed back to clothes they would have to adapt back to clothes. ...read more.

Middle

This meant Marks and Spencer's has had to make their products higher quality and keep the same prices to compete with them. They could make more food items at lower prices in order to improve. Tesco - Their Prices are checked everyday against their competitors (Asda, Sainsbury's And Morrison's.)They have shops all over the UK and you can order on the phone, in store or on the web. They belong to the tertiary segment and sell Clothes, Food, Electrical, Children's Toys, and Flowers. Their Pricing and Quality Is High, Medium and Low (value) so as to suit all types of customers. They often have offers on Products and Provide Medium Good Quality Products. They have impacted Marks and Spencer's and Mark's And Spencer's have had to react by making medium quality items and having to lower prices and open more stores and advertise more to compete with them because people have less money to spend on food and clothes because they are trying to pay off debts. They could have the same quality but lower the prices in order to improve. ...read more.

Conclusion

They have impacted Marks and Spencer's by Next - They have stores all over the UK and sell clothes, shoes and some beauty products and jewellery. You can order in store, buy in store, order over the phone or order from a catalogue. They are in the tertiary segment and sell life style products which you can use or wear everyday. They have medium to high quality and have medium prices. They have impacted on Marks and Spencer's because they targeted the same customers as Marks and Spencer's. This caused Marks and Spencer's to try o change their style of clothing (products) to match Next. Laura Ashley - They have shops all over the UK and are in the tertiary segment. They sell clothes, shoes, jewellery, accessories and home furnishings. You can order off of the internet, out of catalogues, out of store, and over the phone. They have medium to high prices and high quality. They have impacted Marks and Spencer's by targeting the same segment of customers, Marks and Spencer's have tried to change by introducing new ranges that are targeted at different segments of the consumer market and also by trying to adapt into the same style as Laura Ashley. ...read more.

The above preview is unformatted text

This student written piece of work is one of many that can be found in our GCSE Case Studies section.

Found what you're looking for?

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

Here's what a star student thought of this essay

4 star(s)

Response to the question

In summary, the report is quite good. The report does state the processes that a number of retailers undertake. The student does link their academic understanding to their commercial understanding, which is a great aspect of the report. However some ...

Read full review

Response to the question

In summary, the report is quite good. The report does state the processes that a number of retailers undertake. The student does link their academic understanding to their commercial understanding, which is a great aspect of the report. However some parts are lacking detail, and the student doesn't understand the case study of Waitrose, as clearly as She/He should. The student states that external factors could decease the share price. However this isn't too external. This is due to that the share price will increase/decrease based upon the businesses operations and how successful the business is. If the business were to undertake beneficial actions, there can allow the share price to become stable or increase/decrease. On the flip side, the student understands that if a competitor were to decrease their prices, this may attract consumers to their competitors. The business may have to decrease their own prices to 'price match' their rivals, and this may cause the business to loose profits.

Level of analysis

The report states that Marks & Spencer's main competitor is Waitrose, although why is this the case, and not others? The report could include 'Marks & Spencer's and Waitrose supply food items of high quality for a reasonable price, although the price has an small 'premium' for the high quality of their products. Thus, Waitrose is their rival, as there promote/market their products to the same consumers. It's quite difficult to acquire these consumers, as there is almost always one other retailer wanting the sales of that target audience'. The student does state that there have 'low prices', although this isn't the case. The retailer does try to 'match' others, but there do not under cut their rivals and have cheaper products. They only 'match' prices.

Quality of writing

The term 'External Influences' is described poorly. An external influence is any action that impacts on the business, which is outside of their control. For example the wages of their customers fall, thus the amount of money spent may reduce. The report does contain a number of spelling/grammar errors which should be corrected before submitted to the examiner.


Did you find this review helpful? Join our team of reviewers and help other students learn

Reviewed by danielbeal 02/04/2012

Read less
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 GCSE Case Studies essays

  1. Business studies Coursework - Study of a small established local business

    amount of return customers and reputation by providing excellent customer service and a pleasant shopping environment. The way I propose they do this is as follows: * Changing their current dark blue rough vinyl floor to a light shade of blue.

  2. The mobile phone industry and Porter's five forces analysis

    If we focus on the point of view of an equipment manufacturer such as Samsung, I think that the three important threats could be related to: the development of new technologies; the achievement of economies of scales; and the negotiation power over suppliers and mobile-phone service providers.

  1. aims and objectivs of tesco

    go for a wider range of customers for them to get this wider range of customers Tesco had to go abroad. I believe that Tesco expanding abroad was a good move because Tesco has so far made 280 million pound profit abroad and I believe that this is still going to increase just all of Tesco's other profits.

  2. Functional Areas

    A company would ask to sponsor a club or a player, that club/player would then come to an agreement with the sponsor for x amount of money, for y number of games. The advertisement would then be incorporated into the club/player's shirt or shorts and for the duration of the contract between the club/player and the sponsor for said advertisement.

  1. Pestel. Nike is not likely to be affected by any political factors apart ...

    As all business have to pay the government Exchange rates will affect Nike if they want o export their products to other countries. Nike are an American company so they work in dollars. If they is a strong dollar it means that it will be more expensive for overseas countries

  2. Domestic dog home

    This will add value to the business as the money is coming in the business. Cost Of Sales The cost of sales is the amount of money that it costs the business to produce the products or to provide the service, for example, raw materials and labour.

  1. Market Research at Marks and Spencers

    Collect the appropriate data (2) Make data comparable and amenable to analysis (3) Minimize bias in formulating and asking question (4) To make questions engaging and varied. Marks and Spencer use questionnaire for their research because this helps them find out what they need to know for example audience, gender, employment, ethnicity, product knowledge and environmental friendly.

  2. Task 4: What is the most important factor for generating repeat purchase at the ...

    2. After a new product has been tried once, its success can be measured in how quickly, how often, and in what multiples of quantity it is repurchased. Repeat purchase may refer to the number or percent of respondents who purchase a second time, or to the frequency of repurchase of respondents.

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