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Introduction All business might fail to reach their aims, and one of the reasons is they were affecting by external influences. For this part of the coursework, I need to talk about the external influences and how they affect Richer Sounds and Chrissie D's. Richer Sounds The main two external influences that affect Richer Sounds are: - Action by business competitors. - Changes in economic conditions. Environmental constraints also effect them - but not as much problems cause by industries. Richer Sounds business competitors To offer the best value possible and the best customer service, Richer Sounds monitor their competitors in three ways: - Each store has to check the prices of competitors. - From time to time, they carry out official 'benchmarking' exercises - check the prices that advertised by their competitors and compare with themselves. - Their mystery shoppers also visit their competitor's stores - to check their customer service and compare to themselves, then improve. - They also offer...

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