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Although the study is about the reasons for profitability, the researcher decided to base the study on a particular retail store. The researcher has worked in this store for a long time. As a part of an internship project, the researcher had helped this retail store set up an effective marketing strategy for their new business. Due to the rapid changing of the trading environment, the policies have to be constantly kept in check.
By analysing the above- mentioned data and the advantages of competitive strategies when it comes to gaining a competitive advantage, it is necessary to finalise the aim and draft the objectives of the dissertation.Customer Relationship can be determined and improved by analysing the customer value chain. New set of marketing strategies can be developed using the 7 P Formula, which can be used to evaluate the changes in the business activities which can result in a better understanding of achieving a competitive advantage.Competitive advantage of a small- scale business can be measured using Porter’s Five Forces which will be dealt upon in further chapters of this research document.