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    Would anyone mind helping me with my homework?
    I just started a level business and i need help with my homework as i dont get it
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    What don't you get and we'll help...
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    (Original post by pmc:producer)
    What don't you get and we'll help...
    I dont understand market growth or market size and i also sent a picture attachment of the homework questions. I tried using a book to understand but i dont understand
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    (Original post by Mariah Del Ray)
    I dont understand market growth or market size and i also sent a picture attachment of the homework questions. I tried using a book to understand but i dont understand
    The total market is worth 128.2bn per year... How that is fragmented by market share of each supermarket will be in your text book (for example; Tesco represents 31.5% of that, Asds represent 16.7 etc etc.)

    The calculation to work out 0.2% (to prove the rev - Q2a is 128.2bn ÷ 100 x .02 = £256.4m...)

    The reasons for Lidl's increase (Q2c) could be the consumer's demanding lower prices and turning to discount stores - particularly with Kwik-Save closing (allowing Lidl and the like to absorb those customers)... Not forgetting their business model of low-cost, high volume alongside expanding their presence in the UK allowing easier access to stores for consumers.

    Tesco will benefit from sheer presence and customer loyalty of course along with quicker product turnaround (shorter sales cycles) and the ability of premium pricing due to market leadership... (among other things like supply-side benefits like economies of scale)...

    Determining market size can be tricky, in this instance I'd look at the figures (percentages) you have across all supermarkets to determine the segmentation - we already know it's worth 128bn so we can assign numbers to that (and work out how much of an increase in monetary terms we've had for the most recent year)...

    Anything else?
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    (Original post by pmc:producer)
    The total market is worth 128.2bn per year... How that is fragmented by market share of each supermarket will be in your text book (for example; Tesco represents 31.5% of that, Asds represent 16.7 etc etc.)

    The calculation to work out 0.2% (to prove the rev - Q2a is 128.2bn ÷ 100 x .02 = £256.4m...)

    The reasons for Lidl's increase (Q2c) could be the consumer's demanding lower prices and turning to discount stores - particularly with Kwik-Save closing (allowing Lidl and the like to absorb those customers)... Not forgetting their business model of low-cost, high volume alongside expanding their presence in the UK allowing easier access to stores for consumers.

    Tesco will benefit from sheer presence and customer loyalty of course along with quicker product turnaround (shorter sales cycles) and the ability of premium pricing due to market leadership... (among other things like supply-side benefits like economies of scale)...

    Determining market size can be tricky, in this instance I'd look at the figures (percentages) you have across all supermarkets to determine the segmentation - we already know it's worth 128bn so we can assign numbers to that (and work out how much of an increase in monetary terms we've had for the most recent year)...

    Anything else?
    Omg! Thank you soo much i literally understood everything i just read!
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    (Original post by Mariah Del Ray)
    Omg! Thank you soo much i literally understood everything i just read!
    Perfect! Glad it's making sense. If there's anything else we can help with, just ask! Good luck
 
 
 
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