For example, interest rates affect a company like Mr. The smoking ban had a big effect on all business when it was put in place however it was a positive for shops and business like Mr. Environmental These are factors which can relate to the social, political and legal aspects affecting a business.
Another technological factor would be for Mr. These moves would also improve the image of his business in that it will become more environmentally friendly. Khan adapting a new outlook to how his business gives back to the environment, by the packaging he uses to wrap his sandwiches in perhaps using bio degradable packaging.
Inflation affects all business because it affects prices of goods and services and taxes on business like Mr.
Reducing the amount of packaging he uses so that he has less waste. Legal Legal issues involve the development that goes on within the business it includes various laws such as discrimination law, consumer law, antitrust law, employment law, and health and safety law.
Exchange rates affect the costs of exporting goods and the supply and price of imported goods in an economy this affects Mr. Khan could consider is reducing the amount of waste his business generates overall; by reducing it he would not only save money himself on the waste packaging that is not used and it would reduce cost of rubbish removal because he will then have less non recyclable waste.
Khan Business because it could import some of the ingredients used in his product and the exchange rates can differ and tax on importing and exporting goods can increase. This can affect how much his sandwich grows and expands, possible new store he could open and how quick it does so.
Khan started to make his business more child friendly and offer coloring and play areas for children. Order now This will bring more people with children into his sandwich store and mean that the parents will stay longer and spent more money in his shop because their children are happy and entertained with the meal they have.
These factors can affect how a company operates, its costs, and the demand for its products. Age is has a big affect such as if Mr. Any more advance technology that he could use in his business such as new fridges, cooking and the equipment he uses to make the sandwiches which could all potentially increase the quality of his products.
Economical -Economic factors include economic growth, interest rates, exchange rates and the inflation rate which affect business in the way of stock prices, rent and taxation these factors have major impacts on how businesses operate and make decisions.
Some examples of this would be Mr. Social Social factors include the cultural aspects that affect businesses which can include population growth rate, age, career attitudes and different cultures.
Making the inside of his store more comfortable by using sofa seating instead of plastic chairs. Technological Technological factors include the ways in which technology has changed the way business operate and the rate of technological change.
These political factors include areas such as tax policy, labor law, environmental law, trade restrictions, tariffs, and political stability. Examples of this would be business offering free Wi-Fi when you use the business this is something that Mr.P4 Use Marketing Research. Task 1 (P4 use marketing research for marketing planning) Results % want more children’s sandwiches % want the shop to be open longer % said the staff was unfriendly % said the contents of the sandwiches could be fresher % said they would prefer more wraps SWOT Analysis Strengths – Because Mr.
Khan. Browse thousands of essays from our giant database of academic papers. Find assignments like P4 Use Marketing Research for Ma.
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ultimedescente.com Course title Stage Unit Name & Number Unit Co-ordinator Assignments issued by Coursework Title/ Brief Learning Outcome ultimedescente.com marketing research for marketing planning. p4 - use marketing research for marketing planning PESTLE Analysis political factors are usually beyond the control of the organization and businesses need to anticipate changes and identify any factors that affect the business.
the changes in laws and regulations such as accounting standards and tax requirements can affect the company by affecting their ability to penetrate the developing. Good piece of work. A lot of market research has gone in this.
Used McDonalds as a typical example. Please download my Unit 3 P3 upload as this criteria P4 is. Marketing planning process model -PESTLE and SWOT Pestle stands for political, economic, social technological, legal and environmental influences.
Businesses use this.Download