1.2.4 The competitive environment
Understanding the competitive environment:
● strengths and weaknesses of competitors based on: price, quality, location, product range and customer service
● the impact of competition on business decision making.
● strengths and weaknesses of competitors based on: price, quality, location, product range and customer service
● the impact of competition on business decision making.
Starter:
What is meant by competition?
Do you think markets are becoming more or less competitive?
What is meant by competition?
Do you think markets are becoming more or less competitive?
Competitors
Competition occurs when two or more businesses act independently to supply goods and services to the same group of customers.
How does the rise of Amazon and their business model impact the competition on the high street based upon price, quality, location, product range and customer service.
Why are small high street retailers disadvantaged compared to a company like Amazon?
How does the rise of Amazon and their business model impact the competition on the high street based upon price, quality, location, product range and customer service.
Why are small high street retailers disadvantaged compared to a company like Amazon?
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Amazon's Retail Revolution Business Boomers BBC Full documentary 2014
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Related article: Top of the flops: the year’s worst customer service errors
Competition & Business Decision Making
How would local businesses in the high street need to respond against the rising competitiveness?
Using your own knowledge and research, identify how firms in the local area compete with each other in Shenfield or Brentwood.
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