Organizational Profile Development Based on your research, develop 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. • Identify three or more of the secondary sources of information available for conducting market research on 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?
The operations of Recreational Equipment Inc. (REI) involve outdoor retailing of sports and equipment. It is dedicated to providing necessary products for the physically active consumer (REI, 2017), which include sporting goods, outdoor activities, camping gears and travel equipment (REI, 2017). The services offered include outdoor camp training, rental policy for the customers to try the material and gears before buying them. The services are attractive to the customers, and this makes REI a leader in outdoor sports. They have developed an environment that promotes innovation through a cooperative membership. The latter ensures production of quality products with a high-end brand. Success at REI has been reinforced by the educated workforce and constant focus on designing items that meet demands of the customers. The supply chain and distribution systems at the company play an integral role in promoting REI’s image. The marketing system also keeps the customers aware of various products that the business can offer.
Marketing Environment REI’s products require an extensive marketing campaign that will reach its potential customers in the United States and the world as a whole. The marketing plan is affected by various factors such as political, economic, social, technological, legal and environmental dynamics (Kotler & Armstrong, 2014). The political factors influence the operations of REI regarding stability. A stable US government contributes to a favorable environment for business. The business if affected by changes in price, inflation as well as employments in the U.S. and at the global level. High prices will drive away consumers and low rates of employment results in a lack of disposable income to be spent. The behaviors that a society develops will determine their ability to purchase a product (Kotler & Armstrong, 2014). Trends in culture influence people’s willingness to acquire goods. The company should ensure that research is done before implementing product development to prevent negative feedback from the community…