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The Competitive Environment Explained | Amazon vs Independent Bookstores
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Watch this video to understand what the business environment is and how independent bookstores can compete with Amazon.
When a business is looking at the competitive environment they are looking at how their business is affected by its competition and how it can adapt its business practices in order to stay relevant and continue to succeed in the market.
Decisions will need to be made based on what the competition is doing and how they are performing in certain areas. Five common areas to look at when assessing the competitive environment are:
Price
Quality
Location
Product Range
Customer service
A free supporting activity worksheet is available to download on the following link:
Follow us on the following socials to see even more Business Studies content:
#BusinessStudies #BTECBusinessStudies #GCSEBusinessStudies
When a business is looking at the competitive environment they are looking at how their business is affected by its competition and how it can adapt its business practices in order to stay relevant and continue to succeed in the market.
Decisions will need to be made based on what the competition is doing and how they are performing in certain areas. Five common areas to look at when assessing the competitive environment are:
Price
Quality
Location
Product Range
Customer service
A free supporting activity worksheet is available to download on the following link:
Follow us on the following socials to see even more Business Studies content:
#BusinessStudies #BTECBusinessStudies #GCSEBusinessStudies
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