Contemporary Business Environment: Market Structure, Economic Factors, Brexit, and COVID-19 Impact

CONTEMPORARY
BUSINESS
ENVIRONMENT

Contents
INTRODUCTION:......................................................................................................................................3
1. Explain the market structure in the UK within which the company will be operating.....................3
2. What are the economic factors within the UK that will affect the business of the company?..........4
3. What are the likely impacts of Brexit on the business operations of the company?.........................7
Q4. Impact of COVID-19........................................................................................................................8
CONCLUSION...........................................................................................................................................9
REFERENCES:.........................................................................................................................................10

INTRODUCTION:
The contemporary business environment is quite competitive and so to co-operate with such
environment for the marketing purposes which can lead to improve a good item, or to price it
attractively and making it affordable for the consumers. To communicate with the current and
capable shareholders and the general audience is no longer a process of luxury but it is a
requirement of the competition. Marketing experts believes that a company is laid to the account
of a communicator and the promoter. Moreover the major concern in these days of technology is
not regarding the fact that how to communicate with other but rather what to say and to whom
and this is the time where the strategies of marketing are highlighted.
This report will discuss about the penny market which is a grocery retail company based in
Germany which are planning to start their operation in the UK. They wanted to analyse the
recent business environment of UK by knowing about the market structure in the UK, the
economic factors within the UK which will be affecting the business of the other companies, the
impacts of BREXIT on the business, and the impact of covid-19 on the business of the company
(Boone, Kurtz and Berston 2019).
1. Explain the market structure in the UK within which the company will
be operating.
The market is a competitive area and it is dominated by several suppliers. The market structure
of UK is characterized into three main areas onto which the penny market of Germany can
operate. Firstly, few firms should be the major supplier in the market sector. Secondly, the
market firms should be independent. Thirdly, the other firms should not be able to come into the
existing industry. Eventually, the customers in UK are largely attracted by these markets because
of the cheaper prices, good quality of service, the unprincipled balanced, and the reduced
competition. To the customers from the markets in the UK, these markets are beneficial as the
customers acquire the low and fixed range. As there four companies are quite dominating, it is
not necessary for them to compete with the other supermarkets. Therefore, they have the
capability to fix the price in order to make the highest profits in the course of time. Moreover
when the progression of the scale of these markets are leading to the increment of the supply and