Scale of Retail Businesses

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What is a national retail business?

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A national retail business operates all over one country, with multiple retail outlets and a distribution network to ensure product availability across the country.

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How does a national business differ from a local business in terms of resources?

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A national business has more resources than a local business, allowing for superior marketing activities and the employment of highly skilled workers.

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What is the ownership structure of national businesses?

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National businesses often have complicated ownership structures with multiple owners, and are likely to be private or public limited companies.

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What is the market size of a national business in the UK?

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The market size of a national business in the UK includes the entire population of 67 million as potential customers.

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What are some characteristics of a global retail business?

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A global retail business operates internationally, with a much bigger market, potential for lower manufacturing costs, improved communications, and complicated ownership structures.

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What are global brands?

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Global brands are products and services recognized worldwide, sold in numerous countries, and easily identified by customers. Examples include Coca-Cola, Apple, and Ikea.

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What defines a local retail business?

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A local retail business operates at a local level, is often small, with a simple ownership structure, low investment, and serves local communities.

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How do local businesses utilize technology?

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Local businesses utilize technology such as social media and blogs for effective and low-cost marketing.

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What is the role of marketing in a global business?

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Marketing in a global business involves creating strategies that appeal to diverse international markets, adapting to cultural differences, and leveraging global media channels.

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How do national businesses benefit from economies of scale?

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National businesses benefit from economies of scale by reducing costs per unit through large-scale production, bulk purchasing, and spreading fixed costs over a larger output.