Introduction to UK Supermarket Term Paper Example | Topics and Well Written Essays - 2250 words - 1

Introduction to UK Supermarket - Term Paper ExampleLi (2008) and Vasquez-Nicholson (2011) emphasized that Morrison PLC is a dominant brand in the UK supermarket industry as it derives its competitive edge by doing STEEPLE analysis frequently. It has successfully achieved its target market size by exploiting all strengths and availing opportunities present in its external environment. both market is significantly impacted by both micro and macro environmental factors, but macro environmental factors have more influence on operational activities of a business (Jargontt, 2012). Each factor of STEEPLE analysis with its relation to the UK supermarket industry is discussed belowThe current trends of consumers in the UK market depict that they atomic number 18 moving from one stop shopping to a bulk buying mode as there are various social changes happening in the country. Supermarkets have availability of various non-food items which are usually on sale in the market. There have been demog raphic changes because there is an increase in aged(prenominal) people, the number of female workers is increasing, and there is a significant reduction in homemade meals (Davis and Relly, 2009).There is more emphasis on the private label dish out of every business mix, efficiency in supply chain, and improvements in operational activities so that the overall cost of business is reduced. Most of the retail giants in the UK are now shifting to local suppliers for their purchases and stock requirements (Vasquez-Nicholson, 2011 Waterman, 2007). In addition, consumers demand for products and services has changed because of their social conditioning along with their beliefs and attitudes (Lyan, 2007).Technological developments have enhanced the service take of supermarkets in the UK as they have benefitted both consumers and companies.