Below is the chart of the market Tesco has during the previous years
REASONS BEHIND THE GROWING RATE OF TESCO
The reason for growing rate of this business is because the bulk of its 13 per cent rise in profits came from its 1,500 British shops and its online store. (www.google.com)
Another reason for Tesco high growing rate is because the profit sparked renewed criticisms that Tesco and other major supermarkets are squeezing out small, independent shops and eroding the diversity of the high street.
The company has around 24million square feet of sales space in Britain and last year opened another two million more. It is the world’s third biggest
Retailer behind the French supermarket Carrefour and the American giant Wal-Mart
“Tesco also employs more than 260,000 people in the UK, more than any other sector company. It has 380, 00 across the world- the equivalent of the population of Bristol. It makes 17million sales in the UK every week.” (www.google.com)
“John Wright, the national chairman of the federation of small business said. “Small retailers could compete with the supermarket if there was a level of playing field” (www.wikipedia.com)
MARKET NATURE
The market nature of this business is to sell products to its customers. Tesco has gained a lot of its customers because of their affordable products they showcase in their shops. This business has survived many economic disasters from the past year and the competition of the business like the fellow shops like Sainsbury’s etc.
CONSUMER LAWS FOR BOTH BUSINESESS (TESCO AND WEST HAM CHICKEN AND CHIP SHOP).
The customer is always right but when he is a consumer. He is usually has the law on his side. The consumer is protected under the criminal and the civil law. Protection under the civil law is based on the complaints personal right to compensation for carelessness or dishonesty
Some of the consumer laws of Tesco are as follows:
CIVIL LAWS: There is no defence to some allegations of breach of contract and it is often worth taking legal advice and making a reasonable offer of settlement at an early stage. A claim of negligence must be proved; that is. The plaintiff must show that the defendant owed him a duty of care- as someone who might reasonably have been foreseen as being affected by his negligence and that the duty has been and that the duty has been breached, causing consequential injury , loss or damage. For instance, you have both a claim for builder who fails to carry out building works in a proper and workmanlike manner. Only you, however, as contracting party, can sue the builder contract but anyone who is injured or put to expense as a result of his negligent work can sue him in negligence.
TIME LIMITS
Generally, you cannot put your criminal past behind you, as prosecution can be brought years after an offence was committed, provided, of course, that the evidence is still available. Most trading offences, however, are created by statue and prosecutions must be brought within the time specified by the relevant act, usually within six months of the offence. Once the six months time has elapsed, the trader is safe from prosecution (all information was from text books and people who work in the business) source data
THE ADVANTAGES OF THE LOCATION OF THE BUSINESS
- Tesco located in barking has lots of advantages some are as follows
- The business is located in a high street this attracts customers passing by
- The business is also located in a respectable area where there are no problems with gangs robbering the business
- The business has a parking lot where the customer can be able to park their cars to prevent accidents or theft associated with their customers possessions
- It is also the only shopping market located in that area this allows the competition of product reduced in the market.
THE DISADVANTAGE OF THE LOCATION TO THE BUSINESS
- Some disadvantages of the location to this business are as follows
- Being located in the high street the process of traffic make the customer really frustrated about shopping in that centre
- The locations of the business is where most business people are living so mostly in the day time there are no customers but during the evening that’s when the customer flow in to this disturbs the business because they do not make much profit as they expect.
CONCLUSION: in my word the market nature of the business is really important to the business it helps the business to meet it aims and objections. The consumer laws also help the business to know their right towards their customers in that part of the business. Most of the success depends on the location and most of tescos shops are located in the right place. And with the minor business it has to make sure they treat their customer’s right because there a saying that “customers are always right” and they must abide with the consumer laws of the business or they might go out of business.
