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Rayat London College

Strategic Analysis on Waitrose Prospect in China

Table of ContentTitle page…………………………………………………………………………….i

Table of content……………………………………………………………………..1

Introduction…………………………………………………………………………2

PESTLE Analysis…………………………………………………………………...3

Political Factor……………………………………………………………….

Economic Factors……………………………………………………………

Social Factors………………………………………………………………..

Technological Factors……………………………………………………….

Environmental Factors………………………………………………………

Legal Factors ………………………………………………………………..

SWOT Analysis…………………………………………………………………….

Strength………………………………………………………………………

Weaknesses…………………………………………………………………

Opportunities…………………………………………………………………

Threats …………………………………………………………………….....

Porter’s 5 Forces…………………………………………………………………….

Barrier of entry…………………………………………………………………

The power of buyers……………………………………………………………

The power of suppliers………………………………………………………..

The threat of substitutes………………………………………………………

Rivalry among existing competitors…………………………………………..

Market Entry Strategy………………………………………………………………..

Conclusion/Recommendation…………………………………………………………

Reference …………………………………………………………………………….

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IntroductionThe economies in the emerging markets have been growing strongly despite of the economic

downturn in the developed countries. Therefore, it is vital for many of the multinational

corporations to build their presence in these emerging markets rather than U.S. and Western

European markets where the growth is slow and the growth potential is limited. Amongst of

all the emerging market, China’s economy has been growing drastically. It has become the

world’s second biggest economy after U.S. According to BBC news (2011), China is

estimated to become the same size as the US economy within 10 years. Also international

food and grocery expert IGD (2010) estimated that China will overtake the US to become the

largest grocery market in the world by 2014.

In this essay, analysis are made on the current global marketing environment and competitive

environment of grocery market in China as well as the distinctive capabilities of Waitrose in

order to evaluate and recommend the successful market entry strategies for the firm to

capitalize the opportunities and sustain business growth in the prospective world’s biggest

grocery market.

Company Background

Wallace Waites, Arthur Rose and David Taylor opened their first grocery shop at 263 Acton

Hill, West London in 1904; at that time they had no idea that the company would be one of

the leading food retailers with in a century. The business was acquired by the John Lewis

Partnership in 1937, opening the first Waitrose supermarket in 1955. Today there are 243

branches throughout England, Scotland and Wales, dedicated to offering quality, value and

customer service. (Corporate Information- Waitrose.com)

Locations range from high streets to edge of town sites, size varies from 7,000 square ft to

approximately 56,000 ft. Waitrose aims to combine the convenience of supermarket with the

expertise and service of specialist shop. They also offer a price commitment to ensure that

customers always get good value for money when shopping at Waitrose.(Corporate

Information- Waitrose.com)

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Pestle AnalysisA PESTLE analysis is a useful tool for understanding the ‘big picture’ of the environment in

which an organisation is operating. Specifically a PESTLE analysis is a useful tool for

understanding risks associated with market (the need for a product or service) growth or

decline, and as such the position, potential and direction for an individual business or

organisation. It stands for - Political, Economic, Sociological, Technological, Legal, and

Environmental.

China PESTLE analysis for Waitrose:

Political

China is governed by communist party. The stability of the China government is quite

moderate and stable because the administration of the government are not publicize. From the

recent years (2001), China has joined the World Trade Organization and results rapid growth

in industrial and manufacturing sectors because of the cheap labour in China. In the past few

decades, China loosens their trade policy to the outside world in their trading, export and

import industry. (http://www.china-window.com/) Recently China has made extraordinary

efforts in modernizing legal and economic system aimed to stabilize the growth of the

country; however China remains a strictly controlled country, where civil liberties, such as

freedom of communication, religion practice and demonstration are severely limited.

Relationship: China enjoys a strong relationship with the US and other western countries

and is likely to increase its influence in the region due to its expanding economy. China has

difficult relations with a number of neighbouring countries, such as Japan, Vietnam, North

Korea and Tibet.(http://www.starmass.com)

Tax policy: As per law in 2007, the foreign companies have to pay tax equally as their

Chinese companies.

China began to charge foreign companies taxes, which helped to finance local cities,

maintenances and construction of schools. (business.globaltimes.cn/china)

The 2011 corporate tax rate for domestic and foreign companies is 25%.

Chinese company’s capital gains tax is added to the regular tax, whereas 10% deduction for

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capital gains of foreign companies in china. (www.worldwide_tax.com/china).

Economic factors

China economy is characterized by its extraordinary size and growth. The GDP has grown

steadily since 2003 peaking at 11% year-on-year growth in 2007 (China Business

Forecast Report 2008, and inducing concerns about the country over-capacity in the long

term.

The US government is trying to exercise its influence to accelerate the appreciation of the

Yuan, in an effort to limit or at least control its export deficit. Although the People’s Bank of

China has raised the interest rates for five consecutive times in 2007, inflation is still very

high with peaks of 6.2% in 2007.

Economic growth is still mainly driven by fixed asset investment and exports.

(http://www.starmass.com/china_review/economy_overview/china_macroeconomics.htm)

Economic growth rate: The growth of China's economy remains healthy, but the latest

figures show it is now expanding at a more moderate pace.

China's GDP (gross domestic product) grew 9.5% in the second quarter of 2011, compared to

last year. However consumers are being hit hard by rising prices for a range of products,

especially food. The country's GDP reached 20.45 trillion Yuan (3.175 trillion U.S. dollars) in

the first six months.(http://nextbigfuture.com/2011/07/chinas-gdp-update.html)

Interest rates: China raised interest rates for the fourth time since last year (2007) to tackle

inflation. The latest interest rate in china is reported to be 6.56%, when compared to last time

interest rate 6.31%.In China, interest rates decisions are taken by The Peoples' Bank of China

Monetary Policy Committee (Trading economics, 2011)

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Exchange rates: China is the fastest growing country; it became the leading exporting nation

and the second largest economy in the world.

Chinese Yuan’s to 1 USD. Latest 1USD=6.39038 CNY

The above graph reports that china currency increased due to the economic crisis in US.

(CFR, 2011)

Inflation rates: The inflation rate in China was last reported at 6.5 per cent in July of 2011.

From 1994 until 2010, the average inflation rate in China was 4.25 per cent reaching an

historical high of 27.70 per cent in October of 1994 and a record low of -2.20 per cent in

March of 1999. Inflation rate refers to a general rise in prices measured against a standard

level of purchasing power. (Trading economics, 2011)

SOCIAL FACTORS

China has the largest population in the world, 1.3 billion people increasing of about 7.8

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million people every year. In average women with a university degree can earn as little as

75% of the salary of males with equivalent skills. Finally it should be noted that in China title

and status are very important, as well as punctuality both professionally and socially.

Unemployment rate: The urban unemployment rate in China was last reported at 4.1 per

cent in the first quarter of 2011.

(Trading economics, 2011)

Population growth rate: The total population – 1341.0 million people in 2010

TECHNOLOGICAL FACTORS

China has developed a number of industrial centres where transport, telecommunications and

energy infrastructures are widely available.

Research and Development: The government design many plans and strategies in

developing the R&D industry. Many programs to enhance R&D industry are launched such

as the “Torch Program” and the “Scaling Heights Program”. China is now the second largest

nation in terms of R&D spending. China is expected to spend $153.7 billion on R&D in 2011.

(http://online.wsj.com/article/SB10001424052748703734204576019713917682354.html)

ENVIRONMENTAL FACTORS

The environment in the People's Republic of China has traditionally been neglected as the

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country concentrates on its rise as an economic power. Chasing the political gains of

economic development, local officials in China often overlook environmental pollution,

worker safety and public health problems.

Air pollution: Respiratory and heart diseases related to air pollution are the leading cause of

death in China. Various studies estimate pollution costs the Chinese economy about 7-10% of

GDP each year.

Water pollution: Decades of waste poured from factories and cities into China's rivers have

turned many of them into open sewers. About 40% of the water in the country's river systems

has a quality index of 3 or worse, meaning that it is unfit for human consumption. (China

Environment, 2011)

LEGAL FACTORS

The Chinese legal framework is a source of uncertainty for international investors. In fact

laws remain subject to a certain degree of interpretation, mainly because of weak act and

inconsistencies between local and national regulations.

Labour law: Employment Law is formulated in accordance with the Constitution in order to

protect the legitimate rights and interests of labourers, readjust labour relationship, establish

and safeguard the labour system suiting the socialist market economy, and promote economic

development and social progress. (http://www.usmra.com/china/Labour%20Law.htm)

In 2008, China produced new labour law, which is called 'labour contract law’. This requires

all labour contracts to be in writing and it will impose significant penalties on employers that

fail to comply with it. (China Law blog)

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Swot AnalysisCompetitive Strategy starts with an assessment of the outside (external) environment and the

Organisations internal capabilities. This process according to business planners is known by

acronym “SWOT” (Harvard Business Press, 2005). The SWOT analysis is a strategic

Planning tool used in evaluating the Strengths, Weaknesses, Opportunities and Threats of a

company providing helpful information in matching a company’s resources and capabilities

to the competitive environment in which it operates (Nadine and Richter, 2009)

Building value through Strengths, eliminating Weaknesses that detract from value,

exploiting Opportunities that maximise value, mitigating the effect of Threats to value

provides the essential direction for Organisational development in the competitive

environment (Dealtry, 2009). The SWOT analysis allows Organisations to maximise their

Strengths, minimise their Weaknesses, take advantage of their Opportunities and overcome

their Threats (Fine, 2009)

STRENGTHS:

Strong Brand: Waitrose has very successfully positioned themselves as a destination

which provides quality at reasonable prices. They are no longer viewed as being

vastly more expensive than other grocers. The launch of essential Waitrose is the key

to their success. They provided a cheaper option for their core customers and quality

food at reasonable prices. This was done without diluting the quality perception of the

other products that made Waitrose special and different from other players. (Just Food

Home. News and Insights). Waitrose credentials for good food’ fine quality

ingredients were further strengthened with the arrival of Delia Smith and Heston

Blumenthal as Brand ambassadors in 2010 (Waitrose press centre, 2011)

Waitrose’s Belief in Quality: Their reputation has been built on quality and

freshness to their food which is what their customers want and what gives them an

edge over other supermarkets. They are committed to bringing the best of quality food

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to the extent that should you not enjoy one of their products when you tell them they

would replace and refund you. It’s their policy to replace and refund if a customer is

unhappy with the product in any way. (Waitrose Corporate Information,

Waitrose.com)

Innovative Skill: In addition to its essential product line, Waitrose has an

unmatchable top tier of product ranges and innovation continued through 2010 with

the launch of new menu, Duchy originals from Waitrose and Heston from Waitrose.

The significant development that underlines the Waitrose commitment to quality

cooking is the launch of UK’s first supermarket cookery school in Nov 2010

(Waitrose press centre,2011)

Uniqueness: Waitrose is the only supermarket to hold a Royal Warrant from H M

Queen Elizabeth 11. As of 01/10/201, the company has a royal warrant to supply

groceries, wines and spirits to Prince Charles. For this reason they have been regarded

a mark of excellence and quality and are highly prized. (The Waitrose Difference-

Our Company – Waitrose.com)

A Partnership: As part of John Lewis partnership, it’s owned by everyone who

works for the partnership that’s why Waitrose’s staffs are called partners, sharing

profits every year that would normally go to shareholders. For this reason, there is an

extra ordinary level of commitment among staff and excellent customer service.

( Waitrose corporate information, Waitrose.com)

Positioning: According to Waitrose Press Centre, Waitrose concentrates through

investing in value, innovative top tier ranges. These investments succeeded in

attracting on average around 300,000 new weekly customers. In September 2010,

Waitrose boosted its position with the launch of Brand price match, a long term

commitment to price march Tesco on 1000 branded products which sit alongside the

essential Waitrose range. Customers can do their weekly shop without sacrificing

value or quality.

WEAKNESSES:

The company’s slow expansion strategy: Although Waitrose’s present store

openings and existing store chain is the key to the company’s success, part of its

weakness has been its slow expansion strategy. Waitrose’s competitors for example

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Tesco are believed to have taken a competitive advantage over Waitrose because of

that weakness.

Poor online service: Waitrose has experienced serious speed and navigational

problems on its new £10 million website, leading angry customers to complain on the

supermarket's web forum and forcing the chain to apologise to customers.

(CFOWORLD, 2011)

OPPORTUNITIES:

China’s rapidly growing retail markets: China has most lucrative and rapidly

growing retail markets in the world. China’s retail sales hit $1.8 trillion in 2009 up to

15.5% year on year (China Business Review, 2010). China’s booming retail sales are

underpinned by a steady rise in household income. In 2009, the per capita disposable

income in urban areas reached $ 2,515; nearly triple what it was a decade ago. In

economically advanced cities such as Beijing and Shanghai, the average per capita

income is more than $ 3,810. (China’s Business Review, 2010) Better living standards

have shifted peoples’ focus from satisfying basic needs to pursuing a higher quality of

life, creating significant opportunities for the retail market.

China’s e- commerce market: China’s on line shoppers grew 45.9% to 108 million

between 2008 and 2009 and online nearly doubled to 36.6 billion. This has given

success to Business to Consumer China’s e-commerce market. (Lu, 2010 – China’s

Business Review). Waitrose can penetrate Chinese market by taking advantage of e-

commerce market.

China’s population and lifestyle: China’s fast growing population together with the

increasing wealth of individuals are the key factors behind retail market expansion.

Brand image is one of the important factors in making purchase decisions in China.

(Business wire, 2011) China’s population according to 2010 census is 1.34 billion

people with 0.57% annual increase over the past decade. (BBC News, 2011).

China’s removal of Geographic and Ownership Restrictions to retail foreign

investors: Under China’s WTO accession agreement, China committed to gradually

eliminate market access barriers for foreign enterprises. According to PRC

government in 2004, the administrative measures for foreign investment were issued

which allowed foreign investors to establish retail enterprise in china without

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geographical limitations, also to provide retail services through Joint Ventures (JVs)

or Wholly Foreign Owned Enterprises (WFOEs) and to establish foreign Investment

Partnership retail enterprises from 2010. This would be a good opportunity for

Waitrose.

THREATS:

Restricted Products: Foreign enterprises that provide retail services for certain

products including agricultural chemicals, cotton, and grain, oil, and sugar and

tobacco face market access barriers. For example only Joint Ventures with

majority with majority Chinese ownership may sell different types of brands of

these products from multiple suppliers through more than 30 outlets. Foreign

investors must take concession on the size and independence of their business to

access China’s market. (Lu, 2010 – China’s Business Review)

Complicated Licensing Process: Foreign invested retailers must go stricter

licensing procedures than their domestic competitors. The Investor must first

obtain a business licence from MOFCOM and then registration approval from the

State Administration for Industry and Commerce (SAIC). Domestic retailers on

the other hand can obtain licences directly from SAIC without obtaining prior

approval from MOFCOM. The licensing process can be slow and inconsistent

adding extra costs to investors. (Lu, 2010 – China’s Business Review)

China’s Existing Grocery Competition: Considerable threat to Waitrose would

be the expanding grocery sector of China. America’s Wal-Mart, France’s

Carrefour, Britain’s Tesco and Japan’s Ito Yokado are at a faster expansion in

china. Each year they open hundreds of new stores. There is also prominent

domestic market such as Liahswa. (Watts, 2010 – The Guardian)

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Porter’s 5 Forces AnalysisPorter’s five forces analysis is developed by Michael, E. Porter who is Harvard Business

School professor in 1979. He identified five forces (Threat of entry, the power of buyers, the

power of suppliers, the threat of substitutes, Rivalry among existing competitors), which

determine the industry’s competitiveness as well as its attractiveness. He advocates that ‘To

understand industry competition and profitability, one must analyse the industry’s underlying

structure in terms of the five forces… Industry structure drives competition and profitability,

not whether an industry produces a product or service, is emerging or mature, high tech or

low tech, regulated or unregulated.’(Porter, 2006) He also states that ‘understanding industry

structure is essential to effective strategic positioning as defending against the competitive

forces and shaping them in a company’s favour are crucial to strategy’ (Porter, 2006).

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BARRIER OF ENTRY-------MEDIUM

The threat of entry in an industry depends on the height of entry barriers that are present and

on the reaction entrants can expect from incumbents. (Porter, 2006)

China joined the World Trade Organization (WTO) in 2001 and due to the relaxation of the

most investment restrictions on foreign inventors in late 2003, foreign players are able to

build on their experience in supply chain, logistics and inventory management (KPMG, 2006)

The Chinese government issued the measures for foreign investment in commercial sectors to

permit to establish retail enterprises in China without geographic limitations in 2004.

Furthermore, foreign enterprises or individuals were permitted to establish partnership retail

enterprises beginning in March 2010(China Business Review, 2010)

However, the licensed process for foreign-invested retailers is typically stricter than their

domestic competitors. Also, it is important to be noted that being a Communist government,

the Chinese government can control the law and policy on foreign inventors anytime.

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For example, in 2011, Wal-Mart and Carrefour have been accused of fraudulent pricing

practices and as a consequence, 11 of the Carrefour outlets were fined by the Chinese

government. (BusinessInsider, 2011)

As a result of rapid growth of Chinese economy, the grocery market is also growing fast.

China's FMCG market posted a 16.3 percent growth year on year in the first quarter of 2011,

which worth more than four trillion Yuan (440 billion Euros) according to the Independent (

2011). Also, According to Retail Gazette (2011), International food and grocery analyst IGD

estimates that Chinese domestic grocery market will be worth €1.042 trillion (£878 billion)

by 2015. This indicates that Chinese grocery market is profitable and attractive.

Key competitors in the industry are:

Wal-Mart: It appears in China in 1996 and has about 330 stores in more than 120

cities in China (Financial Times, 2011) and it is the largest hypermarket operator in

China, however, its market share in China dropped to 7.5 per cent in the fourth quarter

of 2010 from 8.2 per cent in the second quarter.(Bloomberg, 2011)

Carrefour SA: It entered the Chinese market in 1995 and is now serving customers at

180 outlets across the country (The independent). Its market share dropped to 5 per

cent in the fourth quarter from 5.1 per cent in the third. It is ranked at fourth in the top

10 list (China.org.cn. 2011)

Lianhua Supermarket Holdings Co., Ltd: It is owned by Bailian Group; the country's

largest retailer by sales volume. The company operates about 5,172 outlets in China.

It also sells merchandise to wholesalers and offers its products through internet. (Data

monitor, 2010) It plans to open 500 supermarket with an investment of $87.84 million

to compete with its international rivals.(Global Times, 2010)

CR Vanguard Group: the second largest supermarket with 6.6 per cent

share(China.org.cn, 2011)

Tesco: It entered the Chinese market in 2004 and currently operates 96 supermarkets

and 12 express stores across the nation and recently opens a giant new logistics

center. It is also planning to open more than 20 new stores nationwide this year.(The

independent, 2011)

The existing foreign players such as Wal-Mart and Carrefour have first mover advantage of

establishing the brand identity and acquiring loyal customers. In addition, the domestic key

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players has a great experience in the Chinese market, which gives them an advantage as they

have a good relationships with the government and knowledge of local consumers. Also,

according to KPMG (2006), it makes it difficult for new entrant to enter the market as

distribution channels and supply chain markets are highly developed by existing competitors.

THE POWER OF BUYERS -------HIGH

Powerful customers can capture more value by forcing down prices, demanding better quality

or more service (thereby driving up costs), and generally playing industry participants off

against one another, all at the expense of industry profitability. (Porter, 2006)

According to KPMG report (2006), Chinese consumers are highly price-sensitive, although

the sophisticated population that value convenience and comfort over price is increasing,

however they are still the minority. Therefore the consumers have great power to force the

price down, which could lead intense competition among the retailers such as ‘price war’.

In addition, since their products tend to be standardized or in other word, undifferentiated and

also the consumers face no or little switching cost if they wish to change their vendors, which

gives more power to the buyers.

The possibility that the consumer could integrate backward also needs to be considered. For

example, the consumer could purchase fresh vegetables or meat from the farm.

THE POWER OF SUPPLIERS------MEDIUM TO HIGH

Powerful suppliers capture more of the value for themselves by charging higher prices,

limiting quality or services, or shifting costs to industry participants. Powerful suppliers can

squeeze profitability out of an industry that is unable to pass on cost increases in its own

prices. (Porter, 2006)

In terms of exporting its products from UK to China, the supplier group of Waitrose has less

power as having established the brand identity; there are many suppliers that wish to supply

their products to Waitrose.

However, if Waitrose is going to source or have some of the products manufactured in China,

the supplier group could be powerful as the existing key players could have already

dominated group of suppliers, which makes the supplier group more concentrated.

According to this is money (2010), sourcing suppliers that meet even the basic requirement of

food quality and safety could be very challenging in China.

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Also, there is a restriction for foreign enterprises that provide retail service for certain

products such as agricultural chemicals, grain oil and tobacco. According to Business Insider

(2010), only Joint Ventures with majority Chinese ownership may sell different types and

brands of these products from multiple suppliers through more than 30 outlets. Under such

restrictions, foreign retailers must make concessions on the size and independence of their

business to access China's market.

In addition the supplier group could integrate forward into the grocery market: foe example,

electrical applicant supplier could offer its product directly to the consumers via online.

Besides, if there are any switching costs in changing suppliers, it will make the supplier more

powerful.

THE THREAT OF SUBSTITUTES----------LOW TO MEDIUM

Porter (2006) defines that ‘a substitute performs the same or a similar function as an

industry’s product by a different means.’

The substitute for the grocery market’s products could be the products that offer more

attractive price-performance such as discount store that is not popularised in China yet.

Generally, for the buyers to switch to another substitute products do not cost them, which

could push the threat of substitutes to the medium level.

RIVALRY AMONG EXISTING COMPETITORS-----------HIGH

High rivalry limits the profitability of an industry. Rivalry among existing competitors takes

many familiar forms, including price discounting, new product introductions, advertising

campaigns, and service improvements. (Porter. 2006)

As it was mentioned earlier, Chinese grocery industry’s growth is very fast; therefore exit

barriers are low. Also the competitors that operate in the grocery market are numerous which

leads fierce competition. According to KPMG (2006), there are traditional style markets are

still leading channel for grocery retail although domestic supermarkets such as Lianhua

Supermarket and foreign hypermarkets that combines department store and supermarket such

as Wal-Mart, Carrefour and Tesco as well as convenience store such as 7-eleven, Spar,

Family Mart and Lawson continue to open more stores across China and have built their

presences. This causes high concentration of the market, which leads the intensity of the

rivalry greatest.

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Due to its intense competition in the market, some of the key players differentiate their

products and services. For example, in addition to its existing products, Tesco added the

items that are adapted according to Chinese local consumer’s traditions and lifestyle such as

fresh fish and soft shell turtle and ready-to-eat chicken legs and also the company offers

lower-priced items than its local competitors. (Daily Mail, 2010) Also, Tesco runs free buses

to the store for its consumer as not many Chinese own cars. (This is Money, 2007) In

addition, Lianhua Supermarket operates a chain of hypermarkets, supermarkets, and

convenience stores to target different segmentations.

Market Entry StrategyWhen decision has been made by an organisation to enter a foreign market, there are a variety

of options open to it. These options vary with risk, cost and the degree of control which can

be exercised over them. Exporting using either a direct or indirect method such as an agent, in

the case of the former, or countertrade, in the case of latter are the simplest form of entry

strategy. Truly global operations which may involue strategic alliance are more complex.

Having decided on the form of export strategy, decisions have to be made on the specific

channels. Many agricultural products of a raw or commodity nature use agents, distributors or

involve Government, whereas processed materials, whilst not excluding these, rely more

heavily on more sophisticated forms of access.

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References:

BBC News, (28/04/2011). China’s Census Shows its Population Grew to 1.34 billion 2010.

Online http://www.bbc.co.uk/news/world-asia-pacific-13218733 . Accessed on 14/08/2011

Chris Brook Carter (25/06/2010). Just Food Home, News and Insights. Online

http://www.justfood.com/comment/waitrose-gains-are-more-than-just-theeconomy-

stupid_id111492.aspx . Accessed on 12/08/2011

Company History Waitrose - Corporate Information. Online

http://www.waitrose.com/content/waitrose/en/home/about _waitrose/corporate_information/

company_history.history.htm . Accessed on 13/08/2011

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Market Entry Strategies

Domestic Production (IFI)

Indirect Exporting

Casual Exporting

Trading Companies

Direct Exportation

International Representative

Local Agents

Foreign Distributeurs

Commercial Subsidiary

Foreign Production

(DFI)

Contract Manufacturing

Licensing and Franchising

Joint Ventures

100 per cent Ownership

John Clague (2010), Annual report-Waitrose Ltd 2009-2010. Online http://www.rspo.org/?

q=report/1626 . Accessed on 13/08/2011

(China Lawblog

http://www.chinalawblog.com/2007/11/chinas_new_labor_law_its_a_hug.html

(CFR, 2011, http://www.cfr.org/china/chinas-exchange-rate-policy-heat/p21455)

(Trading economics, 2011. http://www.tradingeconomics.com/china/inflation-cpi)

(China Environment, 2011) http://www.chinaenvironment.net/)

John Lewis Partnership plc. Results for the year ended 29 January 2011. Online

http://www.waitrosepresscentre.com/content/Detail.aspx?ReleasedID=1750&NewsAreaID=2

. Accessed on 12/08/2011

Jonathan Watts (26/06/2010) China the Next Supper Consumer. The Guardian. Online

http://www.guardian.co.uk/world2010/jun26/shanghai-china-supperconsumer-big-business .

Accessed on 13/08/2011

Our company-Waitrose.com. The Waitrose Deference. Online at

http://www.waitrose.com/content/waitrose/en/home/about_waitrose/our_company/

the_waitrose_diference.html . Accessed on 12/08/2011

Sheng Lu, May- June (2010). Understanding China’s Retail Market. China Business Review.

Online at http://www.chinabusinessreview.com/public/1005/lu.html . Accessed on

13/08/2011

Reference

Porter, M.E. 2006, The Five Competitive Forces That Shape Strategy, Harvard Business

Review

Kar, A. 2011, Business Fundas, http://business-fundas.com/2011/michael-porters-5-forces-

model/, Accessed on 06 Aug 2011

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References:

Harvard Business Press (2005). SWOT Analysis 1: Looking Outside For Threats and

Opportunities. Harvard Business School

Lawrence G Fine (2009). The SWOT Analysis: Using your Strengths to Overcome

Weaknesses, Using Opportunities to Overcome Threats. Create Space

Pahl Nadine and Anne Richter (2009). SWOT Analysis- Idea, Methodology and a Practical

Approach. Grin Verlag

Richard T Dealtry (1992). Dynamic SWOT Analysis; Developers’ Guide. Intellectual

Partnerships, Business and Economics

(Computerworld UK| Published 09:16, 25 March 11

http://www.cfoworld.co.uk/news/technology/3266988/waitrose-experiences-major-problems-

on-new-10m-website/ )

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