Provide a 250+ word 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 a product- (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.

• I have provided a sample in the weekly module to help you understand what to include in your analysis.
• I have also provided a template for you to use for this assignment. If you cannot use the template, you MUST include titles and separate each section.

For each element of the marketing environmental scan, answer the question how does this force affect this industry? Youll 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 Environment and Macroenvironment include:

• COMPETITIVE ENVIRONMENT
  • Youll want to ask yourself questions like:
    • Is it a very competitive marketplace?
    • 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
  • Youll 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 (focus on social trends addressed in your book in chapter 5)?
• TECHNOLOGICAL ENVIRONMENT
  • Youll want to ask yourself questions like:
    • How has technology affected this industry both positively and negatively?
    • What production, supply chain, ordering or consumer-based technology changes are on the horizon?
• ECONOMIC ENVIRONMENT
  • Youll 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
  • Youll 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