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Report on Business Essentials- Hank Marvin and Patty Smith

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Added on  2020-02-17

Report on Business Essentials- Hank Marvin and Patty Smith

   Added on 2020-02-17

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Business Essentials
Report on Business Essentials- Hank Marvin and Patty Smith_1
Table of ContentsINTRODUCTION...........................................................................................................................3TASK 1............................................................................................................................................3TASK 2............................................................................................................................................4TASK 3............................................................................................................................................6TASK 4............................................................................................................................................7TASK 5............................................................................................................................................8COCLUSION...................................................................................................................................9REFERENCES..............................................................................................................................10
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INTRODUCTIONEach and every company has a need to analyse the factors which can control them towork in the environment, mostly for those organisation which are going to start a new businessto accelerate their revenues (Ebert and et. al., 2014). Political aspect and rules and regulations ofthe legislation are providing a guideline in which company members have to make their businessactivities. The present report is based on the Hank Marvin and Patty Smith which are planning toopen a new coffee shop in South London. They are having an objective to provide a luxuryservice to their customers which can increase the number of attracted people. They are having toprovide some extra facilities to their customers like; WIFi which is a need of the customers. Thisreport is having content on the justification to select a country to expand business and marketingmix for this.TASK 1It is essential for the Marvin and Smith to increase their business to grow their revenuesso they have to make analyse properly about those markets in which has all the qualities andfeatures which they want. Political, legal, social and technological factors are having hugeimpact on the companies activities which have to be analyse by them. Market growth is a factorswhich can create a direct impact on the companies business so it is necessary to analyse the GDPrate and GNP rates which can shows the country's growth in the recent times. As the Marvin andSmith are focused to grow their business in the European Union so they have to analyse thecountries which are having all the things and features which can be used by them to develop theirbusiness in these countries. As the European Union has 28 nations in it which are having a tradepolicy so they have to analyse the needs of the customers in those countries as per the products(Hair, 2015). To expand business it is essential for them to analyse the needs of the customersand social trends which has a huge impact on the business. Germany is also a EU nation whichhas a cold climate which creates a need in the consumers to eat and drink hot products so Marvin
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