The REI company
The REI company was started in1938 by Lloyd, his wife, and fellow climbers. The company was started by Lloyd after he failed to find a reliable ice axe in his locality and at a reasonable price. He began to import quality ice axes from Australia at lower prices, and this impressed his friends. The prospects of having better quality ice axes that could be acquired at a reasonable price meant more fun and better adventures for the climbers. He then formed a co-op whereby each member had to pay a membership fee to join. The membership grew with time and until today, though many things are different much remains the same.
Marketing
Marketing
Marketing is the process by which goods and services are created, promoted, distributed and priced. It also involves the ideas to facilitate the exchange relationships with consumers in a changing environment. The relationship between the customers, market and the situation however, can be explained in a marketing mix. The four Ps help organizations understand and track the marketing environmental forces and meet customers' needs in maximum quantities. These include product, place, price, and promotion.
The combination of internal and external forces
This is the combination of internal and external forces and factors which affect the company's capacity to bring up a relationship that can serve customers well. We have internal as well as external environment. The interior is composed of owners, machines workers, and materials. On the other hand, the external environment is divided into two categories: macro and micro. The micro is specific to the enterprise through external. It involves matters to do with producing, production, distribution, and promotion of the commodity. The macro includes the societal forces which affect the entire community. It is made up of economic, demographic, physical. Political-legal, technological and social-cultural environments.
The weak economy and its impact
The weak economy has been forcing most people to follow real tight budgets. Most of these people do not have the extra cash to use for recreation, and as a result, there is no revenue for REI. The loss of the revenue indicates that there is less money to maintain the daily operations. It means cutting the number of employee layoffs and employee hours. Working together, this retail can power the economy by providing opportunities for Americans who are seeking rewarding jobs. The fluctuation in our currency exchange rates has impacted on costs of outsourcing of goods. Prices of REI fluctuate where they may increase at times and decrease at other times. Another way that the global economy is affecting us is through the government (Posner, 2014). Creditworthiness having of large developed states deteriorated, small businesses have been affected across the world. The state has to pay more money to borrow more. As expected, the banks have become more selective on whom to lend and whom not to lend to.
The impact of China's slowing growth
Clear evidence of this is China's slowing growth of the economy. All know her as the river flow of resources. This has negatively affected the other states such as Australia and other developing countries. (Lim \" Tsutsui, 2012).
The role of technology and government policies
Through technology, the retailer gets to know their customer needs better through brand advertisement and feedback from the consumers. The availability of transaction and communication channels poses unique challenges for these products. Consumers can do their research at home through tablets or mobile phones to make sales even when away from the stores for most businesses. (Buabeng-Andoh, 2012). The government forces through policies change the course of the company. The plans involve checking the rate of production through taxes to avoid over extracting. It also reviews the prices to protect the rights of the consumers and producers.
Integrated marketing
The integrated marketing is vital in; in the traditional approach of marketing communication, enterprises separate the campaigns for promotion, direct marketing, press relations and advertisement. Integrated campaigns use same communication tools to reinforce the other and improve (Andrews \" Shimp, 2017).
Secondary research for marketing
Secondary research for marketing uses a secondary source of information that has been used before in the organization or elsewhere. This is used to understand the patterns in consumer behavior, trends and another insightful idea to help in management strategies. (Gniewosz, Eccles \" Noack, 2012).
References
Buabeng-Andoh, C. (2012). Factors influencing teachers' adoption and integration of information and communication technology into teaching: A review of the literature. International Journal of Education and Development using Information and Communication Technology, 8(1), 136.
Lim, A., " Tsutsui, K. (2012). Globalization and commitment to corporate social responsibility: Cross-national analyses of institutional and political-economy effects. American Sociological Review, 77(1), 69-98.
Posner, R. A. (2014). Economic analysis of law. Wolters Kluwer Law " Business.
Andrews, J. C., " Shimp, T. A. (2017). Advertising, promotion, and other aspects of integrated marketing communications. Nelson Education.
Gniewosz, B., Eccles, J. S., " Noack, P. (2012). Secondary school transition and the use of different sources of information for the construction of the academic self‐concept. Social development, 21(3), 537-557.
