MKTG 1010 MCC Accounting Food Industry Environmental Scan Worksheet – Description
Provide a response – using the provided template – to the following question. Please use the template provided to separate your answers by the parts of the question.
ASSIGNMENT:
You need to select a specific industry – not an individual product or company – (examples of industries include fast food, automotive, soda, beer, home improvement, etc.) which you are interested in studying and you need to complete a marketing environmental analysis (also known as an environmental scan).
As noted in Chapter 5, an environmental scan looks at the uncontrollable factors in the immediate environment and the macroenvironment. These are things happening around an industry over which companies have little or no control – but to which the industry must react and respond.
For each element of the marketing environmental scan, answer the question “how does this force affect this industry?” You’ll want to think about what issues (both positive and negative) a marketer operating in this industry needs to think about when developing a marketing strategy.
Factors in the Marketing Immediate Environmentand Macroenvironment include:
COMPETITIVE ENVIRONMENT
You’ll want to ask yourself questions like:
Is it a very competitive marketplace? How can you tell?
Are there many competitors?
Who are the biggest competitors? You need to identify at least 2-3 of the major competitors in the marketplace.
CULTURAL/DEMOGRAPHIC/SOCIAL TREND ENVIRONMENT
You’ll want to ask yourself questions like:
How is this industry affected by different cultures?
How is this industry affected by current or changing demographics (age groups, generational cohorts, gender, income, education level, etc.)?
How is this industry affected by social trends or forces (use the social trends specifically addressed in your textbook in chapter 5)?
TECHNOLOGICAL ENVIRONMENT
You’ll want to ask yourself questions like:
How has technology affected this industry both positively and negatively?
What production, supply chain, ordering, privacy concerns, robotics or consumer-based technology changes are on the horizon?
ECONOMIC ENVIRONMENT
You’ll want to ask yourself questions like:
How has the economy affected this industry both positively and negatively?
How does this industry act in a recession?
How does this industry act in a time of prosperity?
POLITICAL/LEGAL/REGULATORY ENVIRONMENTAL
You’ll want to ask yourself questions like:
What types of laws affect this industry?
What governmental regulatory bodies impact your industry?
Are there any political considerations for this industry?
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