P2 is about explaining how two businesses are influenced by stakeholders. In this coursework, I included the reasons why Asda and the Curious Comb is influenced by certain stakeholders and back them up with evidence. At the end of the document, there is a questionnaire that can support the work for...
In this assignment, I will be explaining how two contrasting businesses- Asda and
The Curious Comb are influenced by stakeholders. Stakeholders is anyone
(individuals, groups or organisation) who has interest/affected by business decision. 1
Examples of stakeholders are owners, managers, workers/employees, suppliers,
lenders, customers and The Community. 2 Within a business, there are internal and
external stakeholders. Internal stakeholders are groups within a business e.g.
owners/shareholders, workers/employees etc. 3 External stakeholders are groups
outside a business e.g. The Community, customers etc. 4The Curious Comb has a
variety of internal and external stakeholders. An example of an internal stakeholder
at The Curious Comb is the employees. 5 Asda has a variety of internal and external
stakeholders for example suppliers, government and customers. 6
One of the stakeholders I would be explaining in this assignment is customers in
order to contrast both businesses (customer is an external stakeholder). Customer in
business means an individual or business that consumes another company’s good
or service; they are important to the business because they create revenues. 7
Asda’s customers are the local community and have around 18 million customers
that shop at the company every week. 8The demographics of Asda’s customers are
mostly younger and average income families and 34% of consumers come from
households with four or more occupants. 9 Asda provides access to younger
shoppers and larger families.10 Asda’s main shoppers are mostly aged 25-44 and the
1
https://www.investopedia.com/terms/c/customer.asp#:~:text=A%20customer%20is%20an
%20individual,another%20company's%20goods%20or%20services.&text=Most%20public%2Dfacing
%20businesses%20compete,to%20expand%20their%20customer%20bases.
UK average of Asda customers around that age is 33%. 11These consumers choose
to shop at Asda because Asda provides cheap and affordable products and often
offers deals to customers. In Asda, the customers play a big role in influencing the
aims and objectives of Asda as the interest it has in business is essential. 12
Shoppers’ interest and expectations are the quality of goods and services while the
expectation is cheap goods that are at its best value and affordable in a British
supermarket. Customers are interested in shopping at Asda because “brand
personality” is unique to them. This is backed up by the article in “Marketing Week” 13
It mentions in this article why Asda is interested in shopping at Asda and it is
because their personality they have towards marketing engages more customers
and their products are cheap and affordable for the local community. 14The influence
that customers have on Asda is that they rely on them to gain profit every year and
shows the company what item/items is wanted more. 15 This highlights that the
company will have to provide for the customer demands. It is key for the company
like Asda to keep their customers shopping at their supermarkets because they do
not want them to switch to other stores like Tesco, Sainsbury’s, Morrisons etc. These
supermarkets are the top competitors of Asda so Asda would not want these stores
getting their customers to shop at their supermarkets. Customers may conflict
shareholders/owners because customers want low price, but shareholders want to
charge more. The way Asda communicates with its customer is either by dropping
leaflets/catalogues, adverts or on their website. 16 The things Asda
communicates/delivers out to their customers are like deals/offers that is happening
in store, presenting their goods/products, items specifications. Dropping
leaflets/catalogues is one of the easiest ways for Asda to communicate to their
customers because it is a written method of communication that displays all the
goods that the store provides.17 The leaflet is usually sent through post to customers
houses. Therefore, Asda’s website is another best method of communication
because it has all the information of the products that they need and if you need help
11
https://uk.trustpilot.com/review/www.asda.com
12
https://uk.trustpilot.com/review/www.asda.com
13
https://thecuriouscomb.co.uk/book-online/
14
https://www.gov.uk/employment-status/employee#:~:text=An%20employee%20is%20someone
%20who,employment%20law%20and%20tax%20law.
15
https://www.newsshopper.co.uk/news/15480270.fresh-lifestyle-salon-in-blackheath-and-curious-comb-
hairdressers-land-in-hot-water-as-government-list-employers-failing-to-pay-minimum-wage/
16
https://www.oberlo.com/ecommerce-wiki/supplier
17
https://www.asda.com/creating-change-for-better/better-business/supplier-relations
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