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Developing a Business Plan

   

Added on  2021-02-20

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Extended Business Project –Individual Report Framework(Suggested)
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ContentsIntroduction......................................................................................................................................1MAIN BODY..................................................................................................................................1Company overview......................................................................................................................1Competitive advantage................................................................................................................1Swot analysis...............................................................................................................................27 P's of Marketing Mix................................................................................................................3Recommendations........................................................................................................................4CONCLUSION................................................................................................................................4REFERENCES................................................................................................................................5
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IntroductionMarketing is an action that promotes business activities and increases selling and buyingcapability of enterprise by using market research as well as advertising. It is essential in productdevelopment and establishing new spaces in market areas. For the purpose of this studyMorrisons company is taken. This report consists of benefits and application of analytical toolsin gaining competitive advantage in market and usage of models that determines the currentposition of an organisation. MAIN BODYCompany overviewMorrisons is smallest retail company among the four largest retailers like Tesco,Sainsbury and Asda in UK. It is a food retailer organisation based in Yorkshire, UnitedKingdom. This company has around 500 stores across the country and also provides robust homedelivery of products (Baker, 2016).Competitive advantageCompetitive advantage refers to such a condition in which company sets higher prices,has large customer base as well as brand loyalty in the market. It is one of the significant goal ofevery enterprise to establish competitive advantage. Morrisons gains competitive advantage byproducing qualitative products at lower rates and supplying it on high demands of customers.Porter's five force modelAsda, Tesco, Sainsbury, Boots, ALDI are the retail companies which are competing withMorrisons in UK market.Rivalry (High):- In UK economy competition is high and competitors has occupied mostof the market spaces. Among them the leading supermarkets are owned by Tesco, Sainsbury andWalmart. Their market share in UK is wide as compared with Morrison. Henceforth, companyfaces high threats from these chains (Deepak and Jeyakumar, 2019).Threat of new entrants (High):- In United Kingdom's retail industry several globalcompetitors has entered like American Walmart and German Lidl. They are increasing theirnumber of stores in UK. On the contrary, internal competitors are also rising and establishingtheir shops in local markets. 1
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