The explanation of an external influence means anything outside the control of the business itself. This includes competition, the economic conditions, and environmental laws. The local Government process and economic circumstances e. g. the interest rates for the bank you are borrowing from. Also the needs to maintain the Local environment e. g. have restrictions on the air pollution and river and waste pollution. The definition of External means the pressures from outside the business and internal is from inside from the business. Jaguars Competition Jaguar's main rivals are BMW, Mercedes, Rover, Toyota, Volvo and other companies.
Jaguar produces cars for luxury division of the market. The existence of rival companies will have a big effect on Jaguar. McDonald's competition McDonalds main rivals are KFC, Burger King, Wendy, Little chef and other companies. This can affects both of the companies as this can cause market share. This can cause effect of the existence of rival competitions The price changes- Jaguar is doing so well in price changes because they are selling there cars at a low cost price. Another thing is that jaguar is going to have to decrease this to get as much customers as the other.
However, this may change because Jaguar may advance with some special offers. For example, the 1 year AA cover, this may encourage other car companies like BMW and Mercedes. Therefore other companies will have wanted to promote special offers to attract more attention and customers. This will possibly occur because of the quality of standard of their products (cars). This will have some kind of affect on other rival companies because they might possibly want to be just as better as Jaguar because they want all of the attention, also they can get more customers.
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They may want to keep their costs down so that other car companies won't be able to compete with them. It is a good idea to have a good range of cars models because it is a positive way to target different market segments. For example an XK car model is more of a sporty type of car. This is because it is targeted mainly at younger people (19-24). Also it is aimed at young business people, whereas the s-type model is more targeted for richer and luxury people. McDonalds McDonalds also make good offers to attract and get more attention of more customers. Read about
McDonalds Ansoff Matrix
For example they give free vouchers to anyone. They do this by handing them out and they also send them through peoples letter boxes. The McDonalds store is open 24 hours a day and 7 days a week. McDonald's products are also freshly made to the customers. However, if you are not satisfied with your food you can also send it back to the counter and get a refund or get another product of the same kind. e. g. (hamburger, cheeseburger). Economic Conditions In this I am going to explain how important the exchange rate is economics.
The exchange rate of the pound is higher against the dollar. This is good news for jaguar because for example if jaguar wants to sell there cars abroad it would be cheaper for jaguar and therefore expensive for America if they want to buy Jaguar cars in America. This is a great advantage for jaguar because the exchange rate of the pound against the dollar is almost double. All of jaguar's main cars are sold in America and also the exchange rate changes. In Jaguar, they import and export things. E. g. (cars). Export means that jaguar get stuff outside the business.
Import means where Jaguar get stuff within the country. My business which is McDonalds which is a franchise company, they sell their products all over the world and the prices in America or any country are very different to the English prices, e. g. if I brought a happy meal in America for $3, in English money I would only have to pay about i?? 1. However if you were to go to a McDonalds in England, the price of a happy meal would be i?? 1. 99 and therefore if you were paying in American money you would have to pay about $4-5 dollars.
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