Marketing Environment Worksheet

In: Business and Management

Submitted By lattenic
Words 439
Pages 2
REI Marketing Environment Worksheet
List the current characteristics of each environmental factor as they relate to REI.

U.S. Economy
How does the current U.S. economy affect REI retail operations?

1. If the country was in a depression that would affect REI retail operations. People would begin to adjust their spending habits and would cut back on buying items that they don’t necessarily need such as a vast array of REI products. This would decrease REI sales which in turn would decrease revenue.

2. An economic downturn would not only affect retail operations it would potentially cost employees their jobs, or at the very least they would have to take pay cuts in order for REI to stay alive while the economy recovers.

Global Economy
How does the current global economy affect REI retail operations?

1. One example how the global economy would affect REI retail is if their products were purchased from overseas distributors and the currency values were to increase. REI would have to raise the purchase price of their products in order to turn a profit. The risk of doing that would be losing customers because they are charging more then consumers can afford or the consumer feels they can get a better price with REI’s competitors.

2. REI has joined other business to assist in banning and eliminate fair labor violations. Fair labor is an important issue. Everyone wants to be treated fairly in every aspect of business. REI joining along side of other business to eliminating these types of issues sends an important message to consumers. Knowing that you are purchasing items from a company that respects people gives you a sense of pride. It also may ensure that you are a repeat customer which will increase sales and revenue.

Legal and Regulatory Environment
What types of legal and regulatory forces affect REI in the U.S.?

1. The first legal and…...

Similar Documents

Rei Marketing Environment Worksheet

...REI Marketing Environment Worksheet List the current characteristics of each environmental factor as they relate to REI. REI is a specialty retailer whose product line focuses on equipment and materials for the outdoor recreational enthusiast. They carry nearly everything one needs to enjoy the outdoors comfortably and effectively. Shoppers will find that they can purchase everything from tents, sleeping bags and camping equipment to specialized clothing to mountain bikes, kayaks and climbing equipment. REI’s product line includes gear of the quality that serves both the weekend family camper and the serious climber or cyclist. REI’s pricing is reasonable and will accommodate various income levels. In addition to the product lines, REI has a travel service that arranges unique and challenging adventures in exotic places such as Austria, Kilimanjaro and Botswana, and even Antarctica. One can explore these regions by foot, bike, rail or boat. Their group focus ranges from families to women only to birding to volunteer vacations with the American Hiking Association in which one can spend their recreational time helping to build or maintain hiking trails in sometimes remote areas. REI’s company information includes an encouragement to “join our winning team” and states that they have been chosen as one of Fortune’s “100 Best Companies to Work For” in 2005. They speak of themselves as a consumer cooperative with more than 2.4 active members. In general, they portray a......

Words: 1026 - Pages: 5

Financial Environment Worksheet

...Financial Environments Worksheet HCS577 Anita Cohen July 23, 2012 Dr. Dominique Sweeting Financial Environments Worksheet Identify three examples of entities with for-profit, not-for-profit, and government financial environments in the health care industry.   Compare the similarities and differences between the for-profit, not-for-profit, and government financial environments. |       |For-Profit                                 |Not-for-Profit                                     |Government                                       | |Example|Edward White Skilled Nursing unit- St.     |1. Regents Park   Sunrise- Sunrise, Florida         |1. Jackson Memorial- Miami, Florida               | |s       |Petersburg, Florida                       |(Nursing Home)                                     |                                                 | |       |Cleveland Clinic Hospital- Weston, Florida|                                                   |2. Broward General Hospital- Ft. Lauderdale,     | |       |Mt. Sinai Medical Center- Miami Beach,     |2. Mercy Hospital, Inc.- Miami                     |Florida                                           | |       |Florida                                   |                                                   |                                                 | |       |                                           |3. St. Anthony’s Hospital-                         |3. Alexander Sandy Nininger State Veterans'       | |    ......

Words: 398 - Pages: 2

Financial Environments Worksheet

...Financial Environments Worksheet In the first section, identify three specific HEALTHCARE organizations within each of the for-profit, not-for-profit, and government financial environments. For the second and third sections of the worksheet you should focus ONLY on the three environments NOT the specific organizations. In the second section, compare the similarities of financial structures, practices and policies in healthcare organizations regardless of the financial environments. In the third section, contrast the differences of financial structures, practices and policies between the three financial environments. | |Organizations in the |Organizations in the |Organizations in the | | |For-Profit Environment |Not-for-Profit Environment |Government Environment | |Specific |1. HCA. INC (Hospital) |1. U.S. Veterans Affairs Dept |1. Administration for Children and Families | |Organizations | | | | | |2. Tenet Healthcare Corp |2. Ascension Health (Catholic Hospital) |2. Centers for Medicare......

Words: 418 - Pages: 2

Marketing Environment

...DEFINITION OF MARKETING ENVIRONMENT. Marketing environment are those are external and internal environment forces which influence the performance of an organization towards customer satisfaction. External Environment * Includes the competition, other rivals, the market conditions, customer's tastes and preferences. The list goes bigger than that. Anything can be included under competition. The existing rivals, the possible rivals, the product group rivals, and alternative products to satisfy that particular need also come under external environment. The government policies including trade policies, restrictions, foreign trade policies also come under this. Availability of raw materials and even the customer mindset at that particular period of time can also be considered a part of the external environment. The broader societal forces that can influence the whole microenvironment, demographic;cultural , economic; natural, and political;technological. Internal Environment * The internal environment refers to the company and its existing products, marketing strategies. It also includes the strengths of the company with regard to manufacturing abilities, distribution capacities, and marketing abilities. Internal resources should also be considered while formulating a marketing strategy. The forces close to the company that directly affect its ability to serve its customers. The firm itself, its marketing channel, customer markets competitors and influential......

Words: 645 - Pages: 3

Marketing Environment

...5/3/2014 Topic Outline MARKETING ENVIRONMENT Principles of Marketing Lecture 2 Scanning the marketing environment Components of the marketing environment. Impact of the macro-environment. Impact of the micro-environment. Marketing Environment • Scanning the Marketing Environment Companies scan the marketing environment in order to change and adapt their marketing strategies – as it provides opportunities and threats. In doing this companies must be proactive, It is pointless to conduct environmental scanning unless marketing strategies are changed to fit with the environment. A company’s marketing environment consists of the actors and forces outside marketing that affect marketing management’s ability to build and maintain successful relationships with target customers. 1 5/3/2014 Components of the Marketing Environment Macro-environment Micro-environment Macroenvironment: Demographic Changing age structure of the population Changing family structure The larger societal forces The forces close to the that affect the whole company that affect its ability to serve its customers: microenvironment: Political Company Economic Competitors Demographic Suppliers Cultural Marketing Intermediaries Technological Customers Natural Publics Increasing diversity Better-educated, more white-collar, more professional population Geographic shifts in population Macroenvironment: Demographic Demography: The study of human population in terms......

Words: 1765 - Pages: 8

Marketing Environment Unitedworld School of Business Marketing Environment Name: Lam Chau Tuan (Max) Student ID: 08000 Date of submission: Monday, May 14th, 2012 Word count: 1411. Contents 1.Six environmental forces that can have impact on TV-manufacturing industry: 3 1.1 Demographic forces: 4 1.2 Economic forces: 5 1.3 Environmental forces: 5 1.4 Technological forces: 5 1.5 Political forces: 6 1.6 Cultural forces: 6 2. Opportunities and threats from the external forces: 7 2.1 Demographic forces: 7 2.2 Economic forces: 7 2.3 Environmental forces: 7 2.4 Technological forces: 8 2.5 Political forces: 8 2.6 Social forces: 8 3. Strengths and weaknesses of Samsung 9 3.1 Strengths: 9 3.2 Weaknesses: 10 4. Referencing: 11 1. Six environmental forces that can have impact on TV-manufacturing industry: Environmental forces impact on all the organization operating in a macro-environment in general and the TV-manufacturing industry in particular. They will become either opportunities or threats to the TV industry. Therefore, TV-manufacturers should carefully analyze those forces so as to penetrate into the market. There are six types of environmental forces shown in below figure: Figure 1.Environmental forces (self-created). Figure 1.Environmental forces (self-created). 2.1 Demographic forces: Demographic forces relate to age, gender, race, occupation and other statistic (1). The demographic environment is one of the most important things to......

Words: 1890 - Pages: 8

Indian Marketing Environment

...Indian Marketing Environment For Global marketers India is not just a single country, it is further divided into tow different countries. India and Bharat. India is looked and appreciated by the whole world. It is growing at the second fastest rate, Its a outsourcing hub, skilled workforce, Nuclear and space power and everything to become a world power. On the other hand, Bharat invovles poverty, Illetracy at high levels, Corruption, Mismanagement, Violnce between releigions and like that. So in this way whosoever desires to enter in the indian market must realize both the faces of this country. They should realize the serious challenges of doing business here like segmenting the market properly, Understanding country's social and cultural issues, getting through government beaurocracy and understading economic and political situation. There have been bunch of examples of companies who have tried to enter in Indian markets without taking care of these issues and have failed badly. Now before understanding Indian Marketing Environment, it is important to understand what is Marketing Environment. Marekting Environment consist of factors and forces outside or inside the organzation that affect its business in the market. The marketing environment is divided into tow different environments. 1) Micro Environment: It consist of factors lose to the company that have a direct impact on the organization strategy. This includes company's suppliers, distributors, customers......

Words: 2763 - Pages: 12

Marketing Environment

...The Marketing Environment With the advancement of the development of technology and ideology in the modern society, sales increase for most businesses in various fields is no longer just to promote products in exchange of money. In order to aim at having more market share in the today’s world, many companies, especially multinational corporations, are going to expand their businesses with more complicated and scientific analyses and researches. Therefore, market strategies are introduced and widely used by today’s companies. However, in order to survive and even better develop their businesses, it is necessary for companies to have a good understanding of their position in the market environment, and the impact of the changing market environment on themselves. Often times, the right marketing strategies are formulated based on the good knowledge of the current marketing environment, and the relative aspects that influence them. According to the concept of Principles and Marketing, a company’s marketing environment refers to the participants and forces out of marketing who influence the marketing management in establishing and maintaining successful relationships with target customers. Marketing environment consists of two factors, one is microenvironment, which includes the actors close to the company who influence the company ability to its customers, such as the company, suppliers, marketing intermediaries, customer markets, competitors, and publics. The other is......

Words: 1333 - Pages: 6

The Marketing Environment of Hospitality Is Multifaceted

...The Marketing Environment is Multifaceted 1. INTRODUCTION A firm needs to have extensive knowledge on what is going on around them to enable them to make the correct decisions in day-to-day activities. This means they need to know what is going on in the marketing environment (Adcock et al, 2001).The marketing environment is all the factors and forces outside the marketing department that would affect the mangers decisions. It is split into 2 sections: The Micro-environment and the Macro-Environment. These factors can bring opportunities or threats hence why managers need to ensure they are aware of them to ensure the company maximize sales and doesn’t go out of business (Baines et al, 2008). The main purpose of this report is to analyse how the Premier Inn marketing strategies relate to the current macro-environment. To enable me to critically analyse this I have taken the 3 forces; Economical, Technological and demographic. Firstly however I will review the theory on this topic. 2. MICRO-ENVIRONMENT The micro-environment forces can be summarised as the forces that directly affect the business (Armstrong et al, 2009). Evan’s (1988) believes that as they are directly affecting the business, they are much easier to identify than macro-forces which are ‘knock on effects’. The common micro-environment factors are: other departments (within the company), suppliers, marketing intermediaries, customers, competitors and public (Armstrong et al, 2009). The company......

Words: 1080 - Pages: 5

Partial Analyzing the Marketing Environment

...2014 Topic: Chapter 3: Analyzing the Marketing Environment Subject: Marketing Management Prepared by: Joel Gapit Cañon Professor: Dr. Antonio S. Valdez ------------------------------------------------- MBA School Year: 3rd Semester2014-2015 Learning Objectives: (2nd part allocated reports / continuation) * Identify the marketing trends in the firm’s natural resources and technological environments. * Explain the key changes that occur in the political and cultural environments. * Discuss how companies can react to the marketing environment. ------------------------------------------------- Natural Environment –involves natural resources that are needed as inputs or that are affected by marketing activities. Natural resource economics focuses on the supply, demand, and allocation of the Earth’s natural resources. Its goal is to gain a better understanding of the role of natural resources in the economy. Learning about the role of natural resources allows for the development of more sustainable methods to manage resources and make sure that they are maintained for future generations. The goal of natural resources economics is to develop an efficient economy that is sustainable in the long run. Importance of Environment This diagram illustrates how society and the economy are subsets of the environment. It is not possible for society and economics systems to exist independently from the environment. For this reason, natural resources......

Words: 1165 - Pages: 5

Marketing Environment Simulation and Summary

..."Marketing Environment Simulation and Summary” MKT/571 February 24, 2015 RESULTS REPORT SIMULATION TITLE: The Marketing Environment SIMULATION DESCRIPTION: Gerlach Publishing is a small publisher that exclusively publishes textbooks used in Colorado public schools. The Marketing Director at Gerlach is responsible for researching and monitoring the company\'s macroenvironment and proposing necessary changes in marketing strategy in light of long-term changes. Changes in the demographic, political, economic, natural, cultural, and technological environments must be evaluated and the correct response to these changes chosen. [pic] You earned 100 percent. DECISION SUMMARY You selected the natural environment. You predicted that the suppliers would raise the cost of paper. This was a good choice based on your data. You chose to position Gerlach as an environmentally-friendly company by emphasizing its electronic products. This was a good choice. You chose to create products for the English language learner market. This was a good choice. You chose to create and market homeschooling programs. This was a good choice. You selected the political environment. This was a good choice. You predicted that Gerlach\'s business would be hurt by the proposed measure. This was a good choice. You chose to lobby against the \"hands-on\" proposal. This was a good choice. You chose to try to convince the school board to spend......

Words: 1408 - Pages: 6

Marketing Environment

...transforming students into remarkable and worthy management professionals to add value to organizations and society. Advisory Committee – Dr. Rajan Welukar (Vice Chancellor, University of Mumbai) Shri .Dineshbhai Mody (Founder & Chairman) Dr. Rajpal Hande (Director BCUD, University of Mumbai) Dr. Guruprasad Murty (Ex-Director, JBIMS, University of Mumbai) Dr. Rajesh Arora (Director, ADMI, University of Mumbai) 2 The Alkesh Dinesh Mody Institute for Financial and Management Studies is an institute of the University Of Mumbai. This institute is located at Kalina Campus, Vidyanagari. It has graduate and post-graduate programmes in management like the prestigious Master of Management Studies (MMS) course in the specialization such as Finance, Marketing, HR, Operations and Systems. The students of the institute are well equipped academically and technically to meet the challenges of the business world where they will be creating their future careers. The institute encourages the students to enhance their thinking, feeling, speaking and doing skills in congruence with the environmental needs of the business community. The institute imbibes in them the value system, making them capable for providing effective leadership based on societal values. I encourage the students of this institute with complete support and appreciate the institute efforts for conducting various national as well as international academic- industry collaboration. I am sure that the business world and......

Words: 6385 - Pages: 26

Marketing Environments

...RUNNING HEAD: Marketing Environments Marketing Environments Marla Lundborg American Intercontinental University Marketing Environments Businesses face tough decisions in launching and maintaining a product every day. It seems to be a questions answers game or a what if scenario. Analyzing the market and the environments that affect it is essential to successful profitability. As stated by Armstrong and Kotler, (2009), it’s essential to build lasting relationships with customers, competitors, other companies and external partners, and to do this successfully there must be a strong understanding of the forces that encompass these relationships otherwise known as marketing environments. Marketing environments and knowledge thereof, boosts a company’s marketing plan for max achievement. First marketing environment that would affect a team building exercise course company would be the microenvironment portion of customers. For team building courses, the main drive and contributing force for profit is the customer. The main market that would be detailed with this product would be the business markets, since this product is geared and marketed solely towards business as the customer. Without significant participation from the business markets, this product would not be valuable or utilized; after all it is geared towards increasing employee productivity in the workplace. The customer being this driving force is also the greatest asset in marketing a product; they......

Words: 791 - Pages: 4

Elements of Marketing Environment

...Micro-Environment[edit] company aspect of micro-environment refers to the internal environment of the company. This includes all departments, such as management, finance, research and development, purchasing, operations and accounting. Each of these departments has an impact on marketing decisions. For example, research and development have input as to the features a product can perform and accounting approves the financial side of marketing plans and budget in customer dissatisfaction. Marketing managers must watch supply availability and other trends dealing with suppliers to ensure that product will be delivered to customers in the time frame required in order to maintain a strong customer relationship. Marketing intermediaries refers to resellers, physical distribution firms, marketing services agencies, and financial intermediaries. These are the people that help the company promote, sell, and distribute its products to final buyers. Resellers are those that hold and sell the company’s product. They match the distribution to the customers and include places such as Wal-Mart, Target, and Best Buy. Physical distribution firms are places such as warehouses that store and transport the company’s product from its origin to its destination. Marketing services agencies are companies that offer services such as conducting marketing research, advertising, and consulting. Financial intermediaries are institutions such as banks, credit companies and insurance companies. Another......

Words: 1408 - Pages: 6

Marketing Environment

...Mumbai, Sept. 29:  Chennai-based Royal Enfield is working on a de-risk business strategy, which will see its share of global business double to 10 per cent of total volumes by 2015. “This is the best way going forward. At present, we only export five per cent of our output but plan to add more countries in the coming years,” Mr Shaji Koshy, Senior Vice-President (Sales & Marketing), told Business Line. As part of this objective, Royal Enfield will look at Latin America aggressively this year, which will supplement its rapidly growing presence in Europe and North America. The countries that have been identified as key growth centres include Uruguay, Ecuador, Argentina, Colombia and Peru. Nerve centre Mr Koshy added that Brazil was also on the cards during 2012-13 and indications are that this could be a critical nerve centre in the future given the sheer size of the country. In addition, plans are under way to open a warehouse in Vienna (Austria) shortly, which could pave the way for an entry into relatively smaller parts of Europe. Eastern Europe is also tipped to be on Royal Enfield's radar as part of the mid-term strategy. Asean entry According to Mr Koshy, the company will shortly begin making inroads into the Asean region where Thailand, Malaysia and the Philippines are top priority for the moment. New Caledonia, further south in the Asia-Pacific region, will follow as also Madagascar near Africa. “We will look at each and every potential part of the......

Words: 414 - Pages: 2

Nanatsu on Taizai | Die Geheimnisse von Lissabon | Watch Movie