What makes a business successful?
What makes a business successful?
I have chosen to analyse three successful businesses to understand how each business has gained their success, these businesses include Apple, Asda and McDonald’s. Other than having success with a growing profit I will explain other factors that they have used.
Apple is an innovative business that has dominated the technology sector. They have plenty of experience, since they have been in the technology industry for over 30 years. This means they have enough knowledge for their market and know how to meet consumer demands. Also they have an excellent marketing team that promotes their product worldwide most commonly through their simple yet effective TV adverts. They have a strong brand identity compared to its competitors since their apple logo is so recognised worldwide.
Asda is a massive supermarket the 2nd largest retailer in the UK following behind Tesco. However I still believe that Asda is successful due to their main aim that is based upon focusing on their customers. This includes providing a friendly service and also by consistently putting the customer first by lowering prices to save money which automatically attracts more new consumers and also growing a larger market online.
McDonalds is the world’s most popular fast food franchise with over 60 million customers per day. I believe it’s such a successful company because of their sponsorship deals, they often team up with media partners for example film companies such as DreamWorks when they release a new movie you are likely to see that theme in your local McDonald’s. Also they have mastered international expansion which creates a huge global presence within over 100 countries.
I have also chosen three businesses that are unsuccessful to carry out further research on which includes Blockbuster UK, HMV and Comet. I will explain why I consider each business has failed in their market and how we can learn from their mistakes.
Blockbuster UK is a film rental store
I have chosen to analyse three successful businesses to understand how each business has gained their success, these businesses include Apple, Asda and McDonald’s. Other than having success with a growing profit I will explain other factors that they have used.
Apple is an innovative business that has dominated the technology sector. They have plenty of experience, since they have been in the technology industry for over 30 years. This means they have enough knowledge for their market and know how to meet consumer demands. Also they have an excellent marketing team that promotes their product worldwide most commonly through their simple yet effective TV adverts. They have a strong brand identity compared to its competitors since their apple logo is so recognised worldwide.
Asda is a massive supermarket the 2nd largest retailer in the UK following behind Tesco. However I still believe that Asda is successful due to their main aim that is based upon focusing on their customers. This includes providing a friendly service and also by consistently putting the customer first by lowering prices to save money which automatically attracts more new consumers and also growing a larger market online.
McDonalds is the world’s most popular fast food franchise with over 60 million customers per day. I believe it’s such a successful company because of their sponsorship deals, they often team up with media partners for example film companies such as DreamWorks when they release a new movie you are likely to see that theme in your local McDonald’s. Also they have mastered international expansion which creates a huge global presence within over 100 countries.
I have also chosen three businesses that are unsuccessful to carry out further research on which includes Blockbuster UK, HMV and Comet. I will explain why I consider each business has failed in their market and how we can learn from their mistakes.
Blockbuster UK is a film rental store