Question 1:• For a retailer of your choice, outline the important macro- and microenvironmental factors that should be considered in attempting to meet the needs and wants of its consumers in that market and explain because a clear understanding of the environment in which it operates is important. Introduction: The microenvironment describes those elements that have a direct impact on a company, which includes the company's internal environment, competitors, suppliers and consumers (Kolter, 2012). And the macroenvironment refers to the broader forces that also influence its competitors, the entire industry, and the microenvironment (Kolter, 2012). Kolter (1998) also highlights four factors known as PEST in a macro environment: political, economic, the main one being that massive initial investments are needed to start a chain business. Furthermore, the mature retail industry with a similar product range makes it difficult for new entrants to stand out by providing something totally new (Medlin and Ellegaard, 2015；Pookulangara and Shephard, 2013). Furthermore, other key retailers such as Tesco and Asda occupy the majority of the market share with very strong brand awareness (Mintel, 2014). Without sufficient economic scale, new entrants cannot place large volume orders like large retailers to gain a cost advantage (Porter, 2008). All this leads to high entry. JLP, particularly Waitrose, has a large proportion of its own brand products, which allows it not to rely as much on suppliers (Howie, 2015). By working with many suppliers, including both third parties and its own partners around the world, JLP has lower switching costs when switching suppliers (John Lewis Partnership, 2015a). Suppliers can enjoy the benefits of JLP's huge turnover and large customer base, and the long-term partnership and competitive price provided by JLP will also bring them more profits (John Lewis Partnership, 2015a). On the other hand, changing existing retailers to sell their products costs a lot, especially when they are used to stores (Matsa, 2011). And all this will reduce their negotiation