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favourable for new businesseslike Quitto start operations.Corruption levels are also lowin country it means Quitcaneasily avail legal services suchas license, property rightswithout delay and extra cost.11
EconomicLower interest rates(tradingeconomics.com, 2020)IncreasingGDP(tradingeconomics.com, 2020)Interest rates are low in UK; itindicates that people can availloan at low cost. Quit can alsouse loans to invest in businesswithout affecting operationalcost.Increasing GDP of countryindicates growth in demandsof products and services.Hence, Quitcan create newdemandswithoutcompromising on margins.SocialIncreasing populationHigher literacy rate(macrotrends.net,2020)Population growth indicateshigher demands in country.UK population has diversitytherefore large number ofcustomers can be targetedbased on income, age andculture.Educated people are moreconcerned about health andnature. Quitcan easily createcustomer base by offeringhealthynonalcoholicproducts.TechnologicalInternetusers(ons.gov.uk, 2020)Growing popularity of internetcan help Quitto increase itsmarketing reach throughonline channels.LegalCompanies Act, 2006(legislation.gov.uk,2020)Consumer rights Act,2015Legalcompliancesarenecessary to ensure safety andquality among employees andcustomers. Quitalso complieswith companies Act andmaintains legal status throughregistration and licenses. Quality standards are followedto offer healthy and fresh foodand drinks items at Quit.EnvironmentalIncreasing pollutionIncrease in pollution hasincreased the need for healthyliving among people. Quitwould use natural ingredientswithoutharmingnature.Chemical and preservativeswould not be used in food and12
drinks to maintain quality.Table 2: PESTLESWOTStrengthsDiversified product portfolio would help in meeting diverse needs of customers.Use of natural ingredients and no use of chemical would products healthier thansubstitute available in market.WeaknessesSeasonal availability of ingredients would affect the menu and products.Weak brand name and less customer recognition can affect business in first few months.OpportunitiesPartnerships and expansion can help in creating name and increasing demands forbusiness.Use of technology can help in improving service quality and increasing margins.ThreatsCompetitive market can be threat for business as competitors are coming up with newideas and strategies.Change in customer preferences and market environments can affect business operations.Aims and ObjectivesTo increase number of customers through marketing and promotionTo create strong brand name by offering quality products and servicesTo increase sales by offering affordable prices for various customer groupsStrategiesSegmentation- Market segment used by Quitwould be based on demographics of people. Itwould help in focusing on customers from different income and age group.