Part 1 – (2 page minimum)
Develop an organizational profile for the company REI’s marketing environment and a short analysis of the value of secondary sources.
Understanding and tracking the marketing environment is a critical marketing function, focusing on the customer as the center of the organization’s attention. The organization can, and usually does, adjust its products, pricing, promotion, and place (distribution) to meet customer needs and to react to external forces.
When developing an organizational profile for REI’s marketing environment, analyzing the key environmental factors of the U.S. economy, global economy, legal and regulatory environment, socio-cultural forces, and technological forces.
Conduct your research on REI, focusing on the following topics:
- How does the current U.S. economy affect REI retail operations?
- How does the current global economy affect REI retail operations?
- What types of legal and regulatory forces affect REI in the U.S.?
- What types of social and culture trends affect REI?
- What types of technology changes affect REI?
Develop a short analysis of the value of these secondary sources, specifically in gathering information on REI.
- How might these secondary sources be used to develop an integrated marketing plan?
- How valuable would their information be in developing a marketing plan that would contribute to the company’s economic success?
Part 2 – (2 page minimum)
Choose a product category offered by REI and research the REI product line for this product. Select an REI competitor and research its product line for the same category. Focus on how each company approaches its marketing matrix according to the 4 P’s (product, price, place, and promotion).
Based on your research, write an analysis that addresses the following:
- Compare the integrated marketing strategies of REI with those of the competitor company for the product category you chose. Compare the product (features and benefits), the place (distribution) of products, the pricing, and the promotion strategies.
- Assess how each company’s integrated marketing strategy might affect its economic success.