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Name: Carolina Ferreira M4 & D3 Unit 1M4 Assess how a given business has responded to changes in the market. D3 Evaluate how
changes in the market have impacted on a given business and how this business may react to
future changes.
1 Introduction
Due to the following changes in the market such as Aldi and Lidl entering the UK market, coronavirus
happening and how the national minimum wage has increased, this has impacted Tesco because
they have had to work around the changes but also by following the rules and laws.
2 Findings
Aldi and Lidl entering the UK market
Tesco responded to this change through price reductions on over 1,000 lines of product, and the
launch of 2,100 new and improved products, the company has invested £200 million. This affected
their day-to-day running because as Lidl and Aldi enter the UK market Tesco had to be more aware
of what their new competition was doing because Aldi and Lidl had cheaper prices, therefore Tesco
had to make sure that their prices match their competitors, this is so that they can stay number one
leading supermarket. This impacted on their internal stakeholders by having to work harder to keep
their customers so that they did not lose any customers/ consumers so that they are able to be keep
selling their products and having to try and keeping their product prices the same price as Lidl and
Aldi so that they can gain more customers/ consumers. This affected their external stakeholders by
having to put their products the same price as Aldi and Lidl, they gained new customers because as
they have the same price products as other supermarkets, they will be able to maintain a positive
cashflow. Therefore, having the following bearing on their aims and objectives in mind Tesco will
always want to maintain their positive reputation worldwide and in the UK and they want to stay the
leading supermarket in the UK Market. Tesco should react to a change like this in the future by
looking at how many new products other supermarkets are having so that Tesco is able to have
related products or the exact same products at a lower price so that they can continue to make a
profit and sales. There would be the following short-term costs as Tesco would be taking a gamble
on having to introduce a new product to their customers and see if that product would be helpful to
Tesco to continue to make profit, make sales, and gain more customers/ consumers. However, it
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