Business Skills for Market Success

This assignment analyzes the significance of business skills in driving market success and sustainable business progress. It emphasizes how these skills contribute to a company's overall performance in the long run. The text cites various sources, including academic journals and books, to support its claims.

BUSINESS SKILLS

Table of Contents
INTRODUCTION...........................................................................................................................3
TASK 1............................................................................................................................................3
1.1 Market research through online resources........................................................................3
1.2 Evaluation of current trend in market..............................................................................3
1.3 Analysis of the strength and weakness of a potential product..........................................4
TASK 2............................................................................................................................................4
2.1 Analysis of macro environment through PESTEL analysis.............................................4
2.2 Target market for Sainsbury through market segmentation.............................................5
2.3 Micro environment for business proposal through porter five force model.....................5
2.4 Robust business proposal based on research and analysis.............................................5
TASK 3............................................................................................................................................6
3.1 Effective business meeting including pre and post communication................................6
3.2 Effective participation in the meeting..............................................................................6
3.3 Presentation of business proposal at the meeting.............................................................6
3.4 Critically evaluation of meeting outcomes.......................................................................6
TASK 4............................................................................................................................................7
4.1 Effective team working and time management skills for pitch........................................7
4.2 Commination in formal presentation both verbally and visually.....................................7
4.3 Language of persuasion....................................................................................................7
4.4 Success of pitch meeting the objectives..........................................................................8
CONCLUSION................................................................................................................................8
REFERENCES................................................................................................................................9
Books and journals...........................................................................................................................9

INTRODUCTION
Every business organisation needs a smart business skills to achieve its objectives and
goals in the long term. Through business skills, the company can evaluate latest trans in the
market. If the skills are effective , organization can capture a lion share of the industry. In United
Kingdom,Sainsbury can evaluated strength and weakness of the product (Aritz and
Walker,2010). Being a large supermarket chain company ,the organisation has to conduct a
research to improve its quality and performance of goods and services in future. PESTLE
analysis is the most important tools through which external environment is analysed for better
functioning of the business organisation.
TASK 1
1.1 Market research through online resources
Executive summary- As Sainsbury is one of leading firm in retail sector, it has to
analyse its status through SWOT analysis in which strength and weakness can be evaluated.
Porter five force model also helps in sharpen skills of employees of company through time to
time meetings and agenda must be clear to achieve objectives of company.
Industry profile-Retail sector of United Kingdom is one of most growing industry in
today time. There is total sales of 358 Euros as per latest data in which clothing, grocery and
households product are provided to customers. Cut throat competition in sector and various firm
offer close price to consumer with quality to attract maximum clients.
Market analysis- Sainsbury has market share approximately 21 percent in retail market.
In the market, a wide range is available for customers with quality. Different competitors try to
capture maximum market through techniques ans tools. Grocery retail market can be analyse
through internal and external environment evaluation.
Market

segmentation- This is most effective techniques to divide whole market and customers on basis
of their demands and choice fro retail product. For example, Sainsbury uses niche marketing so
that it can focus on its potential customers and provide customised products.
Charts on market share-
Source: (http://www.economicshelp.org/blog/6288/economics/uk-grocery-market-share)
Major competitors- Sainsbury has several rivals like Tesco, Asda, Morrisons,Co-op
Marks & Spencers, Waitrose, Iceland, Lidi, Somerfield, Aldi, internet and Others.
Popular products-Call of Duty is most popular product of Sainsbury which is a video
game. The company has sole 42 thousands copies on Christmas as per latest data. Second
popular product is Chocolate Mousse which is a food product and sold in maximum quantity.
Other popular product are its Toothpaste, Brown Sauce and Ketchup, Soap and Tortilla Chip.
A recent trends-As there is a new technology is used by online retailer, there is difficulty
for store based retailer companies like Sainsbury's. Since two years,offline ratil sector has lost
profit margin and revenue due to costly store network.
Future view on the
industry- Due to online market, consumer has of mentality of easy buy and easy pay will force
companies to arrange the same at stores in future. Along wit high competition, firms will provide
more wide range with better quality in comparison to other and consumer will be more frugal
due to more alternatives.
Illustration 1: Retail Market share

Market research plays a crucial part in the success of the business organisation like Sainsbury in
United Kingdom. The company conducts a research time to time on market and retail industry.
It uses some resources which are helpful in online research like competitors link and read blogs
which are related to the same industry.
Another resource is used in online research is survey (Crook and Waterhouse,2013). As today
many business organisation analyse the market through asking a fixed number of question .On
the basis of the response, it produces the result and make new market strategy for future. Product
research is also conducted by the company to evaluate its current status in the sight of customers.
If any drawback is found then appropriate actions are taken by Sainsbury.
1.2 Evaluation of current trend in market
Trend is the game changer of the market of retail kin United Kingdom. Today, there is
change in choice and preferences of the customers. Today customers prefer packed food and
instant food as now most of the people are working .So due to lack of times , perishable food
demand has been increased in United Kingdom. Now a days, the costumers demand for latest
technology made product for home appliances which leads to the increase in the production of
that particular product of Sainsbury in united Kingdom. Another latest trend in market of retail is
that international standard product are demanded by people at higher rate. On the basis of the
research , it can be estimated that now customer focuses more on the quality of the product so
that they can rely on the brand for long term use.
1.3 Analysis of the strength and weakness of a potential product
The most potential product of Sainsbury is Tortilla Chips in United Kingdom. This
product has its strength and weakness in term of quality and sales (Debortoli,Müller and
vom,2014). One of the most important strength of this product is that it has a big brand name
which makes it strong in retail market. Another strength of the product is that it has healthy
ingredients which attract most of the customer to buy in future. Third strength of the product is
that it is made by latest technology and more attractive cover in term of packaging which can
lead to increase in sales of the product. Along with these strength , there are some weakness of
this product of Sainsbury. One of the weakness of the product is that being a instant snack food,
it will not attract health conscious people rather it can be only limited top children and young

customers. Another weakens of the product is that it is a short life product , after expiry it can be
harmful to the health of customers.
TASK 2
2.1 Analysis of macro environment through PESTEL analysis
Macro environment includes external factor which affect the business of Sainsbury. These
factors are analysed in PESTEL analysis. First factor is political factor in which government
policies are include. The organisation also has to change its business policy according to the
government rules. Second factor is economical factors in which if any change in market like
recession or inflation then it will affect the performance of employees as well as skill of the
company in the long term. Third factor of macro environment is social factor in which the
society trend, attitude and preferences have a major impact on the sales of the product and
consequently affect the business skills in the long term (Fleckenstein and Seeleib,2011). Other
factor include technological factor like invention f new machines. Environmental factors include
use of natural resources and recycling of wastage which have impact on the business. Legal
factors affect the business as Sainsbury has to obey legal rules to continue its business in the
future.
2.2 Target market for Sainsbury through market segmentation
Being a big brand in retail sector,Sainsbury is focused on the target market for its product
and goods. The company uses different types of market segmentation to increase its sales and
revenue in the retail market. Two major basis for market segmentation for food product are
demographic segmentation and psychological segmentation (Flowerdew,2010). According to
demographic market segmentation , the organisation target middle income group of society. As it
targets for average income people, it offers the products and goods at reasonable price.
According to another market segmentation of the food product , the company targets to female
customer because they are more likely to use hygiene product for home as well as for
themselves.
2.3 Micro environment for business proposal through porter five force model
In micro environment of Sainsbury, there are main five factors which affect the business
of the company according to porter five force model. First factor is bargaining power of supplier

as he can increase or decrease the price of the product. Second factor is bargaining power of
buyer. As the consumer is the main key for fluctuate the market, he affects the retail market by
demand. Third factor is threat of substitute product. If many substitute products are in market
then they can decrease then price and value of Sainsbury product. Last factor is threat of new
entrance in the same retail industry. If there entrance is tough for new business in this industry
then it can benefit the business of the company.
2.4 Robust business proposal based on research and analysis
Sainsbury is a leading bend in retail sector of United Kingdom. To maintain and improve
its business, it conducts the research and analysis in the market. On the basis of these, a robust
business proposal is made .The business proposal include some steps like starting with the basic
steps. After that qualitative and quantitative methods are used for analysis (Guffey and
Loewy,2010). For example interview,questionnaire and surveys. From these research data, a
report is prepared including suggestions for future growth. After that business proposal is
implemented in activities and tasks of the company. At final stage, the gap analysis and control is
done to see any gap between desired result and real results in the business.
TASK 3
3.1 Effective business meeting including pre and post communication
An effective business meeting can change the scenario of the whole organisation. There
are mainly two types of communication in the business meeting in which issues and ideas are
discussed with the mangers and employees of the company (Handford,2010). Pre communication
of business meeting includes planning and agendas to improve the business. Post communication
of an effective business meeting includes the result analysis and implementation of policies.
After the business meeting, the manager speaks to the other members and discusses if any issue
with the business planning or agenda.
3.2 Effective participation in the meeting
Being a leading business organisation, Sainsbury tries to increase maximum participation
of the employees. As there are different types of person involved in business organisation who
have different skills. These skills can be used in meeting to gain objectives and goal of profit
maximisation and value generating of the product. Effectiveness of the participation befits the

company. On the other hand, less effective participation can weaken the business growth in the
long term. Effective participation includes innovative ideas and suggestion from the employees
of the organisation.
3.3 Presentation of business proposal at the meeting
In business meeting of Sainsbury, the business proposal has to be presented in such
effective way that maximum strategic planning and issue are included in the proposal. So the
mentioned business organisation conducts time time meeting and the proposal is presented in
which product description is included (Kauffeld and Lehmann,2012). A well introduction of the
proposal is described in meeting and needed steps are explained to the member. So that effective
and efficient result ca n be gained. Budget of the business proposal is also included in the
meeting.
3.4 Critically evaluation of meeting outcomes
According to Jackie Lohrey, it can be depicted that after then meeting is completed , the
outcome should be beneficial for the company. It must have positive impact on the business of
the company in future. As the Sainsbury is a good bran in the retail industry it gains a strategic
and profitable outcome from the meeting. As the members of the meeting are highly skilled and
innovative in work, there is always effective outcome for the future planning related to new
product and goods (Knutson and et.al.,2010). There are many ways in which the company
analyse or evaluate the outcome of the meeting like monitoring or feedback from the employees.
TASK 4
4.1 Effective team working and time management skills for pitch
An effective working is the most profitable part of the company to achieve its goals and
goals in the long term. As a team work among employees can increase the productivity of the
organisation like Sainsbury. Time management is another aspect which play vital role in
preparing a business pitch which is a business plan in verbal way. With the perfect time
management, the company can minimise the wastage of resources and maximise the profit and
revenue in future. These two tools help in capturing the top position in the retail market.

4.2 Commination in formal presentation both verbally and visually
In presentation of business proposal during the meeting,there are two types of
communication like verbal and visual. The verbal communication in presentation is commonly
used by most of the companies (Nalepa,Kluza and Kaczor,2013). Verbal presentation include
words and language to explain the idea and plan to employees. Another commination method in
formal presentation is visual way. In this types of communication,some diagram and graphs are
used to describe the data and business proposal. This method is the most easy way to convey the
message and business idea to the employee. So these both type of communication methods are
important for formal presentation in the organisation.
4.3 Language of persuasion
In the business organisation, there are many different languages are use to communicate
or discuss something. These languages can be verbal or non verbal. In verbal languages , the
person present his opinion through his own words. On the other hand, non verbal persuasion
includes the signs, diagrams , pictures or images or sound to communicate with the employee
related to business meeting. This is a type of business skills of company.
4.4 Success of pitch meeting the objectives
After the whole process of business meeting, the success of the business plan is evaluated
by company. Sainsbury makes a effective meeting plan so that objectives of the meting are
achieved in time and the success is attained in future. Objectives of the meeting include new
growth of the business and maximum share capturing in the retail market of United Kingdom.
The success of the pitch can be evaluated by different measures like statistical data or survey
within organisation (Szpyrka and et.al.,2011). The business organisation can increase the
profitability of business plan by implementing it and by regular monitoring of the desired and
real results. Thus the success of pitch is evaluated to meet the objective of the business.
CONCLUSION
From the above report it can be concluded that business organisation can analyse or
evaluate its micro environment through porters five force model which is the most useful method

to conduct in competitive market environment. There are many different tools which are used to
assess the desired as well as real attained objectives .It leads to long term sustain in the market.
So the business skills plays a vital role in increasing the business progress in the long term.
REFERENCES
Books and journals
Aritz, J. and Walker, R.C., 2010. Cognitive organization and identity maintenance in
multicultural teams: A discourse analysis of decision-making meetings. The Journal of
Business Communication (1973). 47(1). pp.20-41.
Crook, G. and Waterhouse, M., 2013. Management and business skills in the built environment.
Taylor & Francis.
Debortoli, S., Müller, O. and vom Brocke, J., 2014. Comparing business intelligence and big
data skills. Business & Information Systems Engineering. 6(5). pp.289-300.
Fleckenstein, T. and Seeleib-Kaiser, M., 2011. Business, skills and the welfare state: the political
economy of employment-oriented family policy in Britain and Germany. Journal of
European Social Policy. 21(2). pp.136-149.
Flowerdew, L., 2010. Devising and implementing a business proposal module: Constraints and
compromises. English for Specific Purposes. 29(2). pp.108-120.
Guffey, M.E. and Loewy, D., 2010. Business communication: Process and product. Cengage
Learning.

Handford, M., 2010. The language of business meetings. Cambridge University Press.
Kauffeld, S. and Lehmann-Willenbrock, N., 2012. Meetings matter: Effects of team meetings on
team and organizational success. Small Group Research. 43(2). pp.130-158.
Knutson, B.J. and et. al, 2010. Service quality as a component of the hospitality experience:
Proposal of a conceptual model and framework for research. Journal of Foodservice
Business Research. 13(1). pp.15-23.
Nalepa, G.J., Kluza, K. and Kaczor, K., 2013, June. Proposal of an inference engine architecture
for business rules and processes. In International Conference on Artificial Intelligence
and Soft Computing (pp. 453-464). Springer Berlin Heidelberg.
Szpyrka, M. and et. al, 2011. Proposal of formal verification of selected BPMN models with
Alvis modeling language. In Intelligent Distributed Computing V (pp. 249-255).
Springer Berlin Heidelberg.
Online
Jackie Lohrey,.2017.Effective Proposal Meeting.[Online].Available
thrigh:<http://smallbusiness.chron.com/effective-proposal-meetings-74232.html>.
[Accessed on 24th may 2017].