Boots

tiafisher99
Mind Map by tiafisher99, updated more than 1 year ago
tiafisher99
Created by tiafisher99 over 6 years ago
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Description

This mind map tells you about the advantages and disadvantages of competition and how this can affect both businesses.

Resource summary

Boots
  1. Competition - Superdrug
    1. Superdrug is also a public limited company, that sells beauty products.
    2. Disadvantages:
      1. .Competition can force you to lower your prices. This means you won't earn a large profit, like you would do if you didn't have competition
        1. Boots, is a pharmacy with the location in most high streets, shopping centers and airports. It sells goods like makeup, soaps, sprays and several other beauty products.
          1. Boots is a public limited company (plc.)
          2. Advantages:
            1. Competition can attract investments from other countries (for large businesses.)
              1. Competition can make you motivated because you will want to do better than your rival.
                1. Competition may introduce your business to new customers leading to capital, which means you may buy some investments, like in advertising
                  1. Competition may lead to you losing customers, as they may prefer your rival.
                    1. Competition can get you the wrong publicity. For example, your rival may use your company in a TV advert to say that it has lower prices. Therefore, you will lose capital.
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