Individual BUISINESS REPORT Essay Example | Topics and Well Written Essays - 1000 words

Individual BUISINESS REPORT - Essay Example However, the success of food enterprise in the UK is not guaranteed following the bloated number of operators, ranging from manufacturers, to wholesalers, to retailers. Nature Foods plays the role of a retailer in the UK market. The company engages in the manufacture and packaging of imported raw food before distributing their products across the UK. The General Market Environment and Market Findings in the U.K Processed foods have increasingly become popular across the globe. Variant food products are manufactured to meet different consumer needs, tastes, and preferences. The food market environment is generally competitive, characterized by myriad players and operators. The creativity and innovativeness of an enterprise is the primary basis of survival in the food industry, especially in relation to capturing a significant market share (Brennan & Grandison, 2012, p.426). Firms undertake continuous strategic planning in order to design ways and means of luring customers to buy. The core objective of a food enterprise is creating a reliable customer base by providing products that meet their expectations in terms of price, quality, and utility. The UK food market has been found to prefer to go local due to a number of factors. Firstly, following environmental concerns, consumers prefer locally grown, produced, or manufactured food products. This finding substantially affects food imports in whatever state; raw or processed. On the same note, food distribution over long distance has also been put at stake. Secondly, the manufacturing and packaging processes are becoming increasingly important to assess for costs. This aspect centrally affects the operational spending of an enterprise, and subsequently influences revenue generation and profitability. Finally, consumers of food products are going natural, meaning that food products containing artificial ingredients are consistently losing their position in the food industry (Jack, 2009, p.279). This implies that t he tastes and preferences of customers are shifting from artificial food ingredients to natural ingredients. Impacts of the Findings on the Economic Future of Nature Foods Ltd The environmental concerns by consumers have resulted in prioritizing local food products over imported raw and/or processed foods. Nature Foods Ltd imports raw food from different countries before it undertakes manufacturing, packaging, and distribution of the final food products across the UK. When consumers prefer locally grown, produced, or manufactured food products while the company imports raw food for further processing threatens the overall operations and business aspects of the company (Sinha, 2007, p.798). In other words, if necessary steps, actions, strategies, and plans are not taken, the company is likely to run out of business. It is important to note that consumers are rational when it comes to spending. This implies that consumers seek to maximize their utility at the minimum cost possible (Hu tter, 2011, p.111). In so doing, they factor in their needs, tastes, and preferences. The pricing policies that Nature Foods has adopted and the quality of its products can take the company a long way in terms of operational success. However, the opposite is true if the company fails to adjust to consumer needs. In other words the economic future of the company is in jeopardy if the company fails to make adjustments and meet consumer needs as they change. Low