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Porters five forces, is very much focussed on the industry in general, while the strategy could vary from company, as per its competitive environment, going by the dynamic nature of the food retail sector, in the UK. Morrisons has segmented its market quite systematically and need more focus on geographic segmentation so as to be strong leader in the market. This could result in a 24 hour Morrisons being launched and maybe even longer Sunday hours. Market segmentation will help to target customers based on geographic, behavioral and psychographic segmentation. To protect their consumers, Morrisons have introduced CCTV cameras and security guards at entrances, exits and around the store s and factories themselves. (Ries and Trot, 1972). Meanwhile, your aim says why you're doing the things you're doing right now. Mission, Vision, Goals and Objectives of Morrisons Morrisons is focused on profit maximization wherein it has to take more care of credit crunch and economic downfall. Manage Settings The greater the degree of similarity and integration in production and consumption structures, the lower the risks of asymmetric shocks or diverging developments that would necessitate a different monetary policy or changes in the exchange rate in order to avoid prolonged periods of unemployment. Direct Surveys and Questionnaires-This proves to be expensive and time consuming but gives right knowledge about customer choice. Political and economic rationale has taken turns in driving the European integration process with the aim of achieving peace, political reconciliation and economic prosperity. Proper analysis of external factors affecting Morrisons must be seriously evaluated and managed. Taking the time to talk with and listen to colleagues and customers and to always do the right thing for them is at the heart of our plans. There are also other like Somerfield who is in the news, of a takeover bid, and is aiming for the top five retail competition very hard. This suggests that Morrisons aims to achieve sustainable, profitable growth over the long term. To export a reference to this article please select a referencing stye below: If you are the original writer of this essay and no longer wish to have your work published on UKEssays.com then please: Our academic writing and marking services can help you! Aims at providing better taste with new varieties of spices. With the advent of hypermarket, C-Market, the use of technology in the market place which will be deciding factor to influence and initiate processes of sale in the retail sector, which is not considered in the five forces. This is done by such things as fund raising for charities and helping the surrounding community e.g. Morrisons has identified choice of its customers based upon customer database and surveys. 2. Morrisons compete in a highly competitive market where it is becoming such an environment for big business it is hard for new comers to break through. Morrisons will be affected by the fluctuations of interest rates and changes in unemployment as a result of the recession. This may involve understanding and meeting customer needs, providing excellent customer service, and delivering high-quality products.