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. Thankfully, the U.S economy has historically been able to do a complete turn around during economic struggle. However, if REI retail operations were to be be affected people would begin to adjust their leisurely spending habits because they don’t necessarily need array of REI products. This would in turn decrease REI sales which would decrease revenue.
2. Economically, there is always the possibility of a domino effect. This potentially has a strong influence on retail operations and scaling. This has the ability to cost employees their jobs, …show more content…
In this way, REI’s base, or foundation markets benefit.
Legal and Regulatory Environment
What types of legal and regulatory forces affect REI in the U.S.?
1. REI has a detailed privacy policy. This privacy policy explains how personal identifiable information (PII) can and or will be used. REI may share information with third parties on their behalf. “REI takes reasonable measures, including administrative, technical, and physical safeguards, to protect information about you from loss, theft, misuse, unauthorized access, disclosure, alteration, and destruction” (REI, n.d.). The term “reasonable” is not assuring to a potential customer, then again how many people read the fine print?
2. Product Safety and Recalls. Many recreational products come with an extensive range of safety precautions and restrictions. It is REI’s job to inform customers product recalls and safety procedures. REI strictly enforces the Consumer Product Safety guidelines to assure the health and safety of their customers. If misinformed about requirements set forth by the federal government this in turn would leave REI liable.
Socio-Cultural Forces
What types of social and culture trends affect …show more content…
Social media such as Facebook gets a lot of feedback and if REI showed to be unfair and customer was dissatisfied, that could send negative feedback through the social media about the company, and the company could lose business and customers.
Technological Forces
What type of technology changes affects REI?
1. Improving the change of technology allows REI to continue expanding their business nationwide and internationally at lower costs.
2. REI takes full advantage of internet technology and social media through its website. The website advertises all the products available for sale; gives its customers access to discounts, gifts cards, financing options, and membership; and prominently displays its 100% satisfaction guarantee. The ability to connect to the store through facebook, twitter, youtube and other social media as well as mobile phone applications is displayed in an eye-catching spot to enhance convenience (REI, n.d.).
Competitive forces are also a part of the marketing environment, and we will review those in this unit’s second assignment.
References:
REI. (n.d.). Fair Labor and Factory Compliance. Retrieved from REI:
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. Thankfully, the U.S economy has historically been able to do a complete turn around during economic struggle. However, if REI retail operations were to be be affected people would begin to adjust their leisurely spending habits because they don’t necessarily need array of REI products. This would in turn decrease REI sales which would decrease revenue.
2. Economically, there is always the possibility of a domino effect. This potentially has a strong influence on retail operations and scaling. This has the ability to cost employees their jobs, …show more content…
In this way, REI’s base, or foundation markets benefit.
Legal and Regulatory Environment
What types of legal and regulatory forces affect REI in the U.S.?
1. REI has a detailed privacy policy. This privacy policy explains how personal identifiable information (PII) can and or will be used. REI may share information with third parties on their behalf. “REI takes reasonable measures, including administrative, technical, and physical safeguards, to protect information about you from loss, theft, misuse, unauthorized access, disclosure, alteration, and destruction” (REI, n.d.). The term “reasonable” is not assuring to a potential customer, then again how many people read the fine print?
2. Product Safety and Recalls. Many recreational products come with an extensive range of safety precautions and restrictions. It is REI’s job to inform customers product recalls and safety procedures. REI strictly enforces the Consumer Product Safety guidelines to assure the health and safety of their customers. If misinformed about requirements set forth by the federal government this in turn would leave REI liable.
Socio-Cultural Forces
What types of social and culture trends affect …show more content…
Social media such as Facebook gets a lot of feedback and if REI showed to be unfair and customer was dissatisfied, that could send negative feedback through the social media about the company, and the company could lose business and customers.
Technological Forces
What type of technology changes affects REI?
1. Improving the change of technology allows REI to continue expanding their business nationwide and internationally at lower costs.
2. REI takes full advantage of internet technology and social media through its website. The website advertises all the products available for sale; gives its customers access to discounts, gifts cards, financing options, and membership; and prominently displays its 100% satisfaction guarantee. The ability to connect to the store through facebook, twitter, youtube and other social media as well as mobile phone applications is displayed in an eye-catching spot to enhance convenience (REI, n.d.).
Competitive forces are also a part of the marketing environment, and we will review those in this unit’s second assignment.
References:
REI. (n.d.). Fair Labor and Factory Compliance. Retrieved from REI: