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 ENVIRONMENTYou’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 ENVIRONMENTYou’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? .
MKTG 1010 CASE STUDY 1 – ENVIRONMENTAL SCAN
What is your industry? Funeral Homes & Pre-Planned Funeral Services
Environmental
Issues
Force
Competitive
(Note: This is
actually part of
the immediate
environment per
chapter 5)
Funeral homes are a competitive industry, as there are many different companies within a
larger metropolitan area. There may, however, be only one funeral home in smaller towns
with less population. Most consumers select a provider based on prior family relationships.
Also, according to Hoover’s there is more competition for low-cost cremations.
In Metro-Detroit, some of the larger funeral homes include Swanson, Sullivan, and WujekCalcaterra.
Culture:
• Every culture observes funerals and deaths differently. This certainly affects this
industry which has to be knowledgeable and sensitive to the various needs of each
culture. In the Metro Detroit area, this holds true because we live in a very diverse
cultural area.
Culture,
Demographic and
Social Trends
Technology
Demographics:
• Overall, people are living longer. This can potentially affect the industry based on
the age of the people needing the services.
• People are also pre-arranging funeral service because they don’t want survivors to
bear the costs. With Baby Boomers having more disposable income, and based on
generation priorities, they see the value in pre-planning their own funerals.
• The growth in the Baby Boomer generation is going to significantly affect this
industry over the next several years. This generation is relatively educated resulting
in them understanding the need to pre-plan or provide for funeral services.
Social Trends:
• Sustainability: The textbook states that social structures, including companies, need
to be concerned with fair trade and sustainable production processes. This has led
to things like sustainable or green burial, where less chemicals and are used in
embalming and biodegradable materials are used for caskets.
• Health and wellness: This force positively and negatively affects this industry. On
the one
hand, people are living longer and focusing more on health. As part of this trend,
they may
likely be pre-planning funeral services. On the other hand, the health of our nation
is overall
very poor – combined with lower disposable income – may result in people not
thinking or
having the ability to pre-plan funeral services.
• Effective Utilization and Distribution of Food: Not a social trend specifically
impacting this industry
Technology has continued to evolve in the funeral industry. According to Hoover’s “For a
monthly fee, some funeral homes provide the option of memorial websites, where
mourners can post pictures and comments about the deceased.”
Another technology affecting this industry is DNA archiving, which can be used for future
research purposes.
Also, according to the Tedium website (https://tedium.co/2017/10/26/funeral-technologyinnovation/), companies are introducing digital tombstones which can play images and
pictures.
Economic
Political / Legal /
Regulatory
While the economy can affect funeral services, the overall business may not be as
impacted as families and friends will have some type of service whether the economy is in
a recession or a time of prosperity. Many times, these costs are covered by life insurance
policies, so there may be funds available, no matter the economic climate.
• When in a recession, people may go with lower cost options to save money.
• When in a time of prosperity, people may choose to spend more on higher-end
options because they have more disposable income.
There are actually many regulations regarding how to dispose of bodies. According to
Hoover’s there are tighter government regulations than there have been in the past. They
state “Past abuses led to regulation; present abuses and potential for geographic
monopolies may lead to more. Federal and state regulations apply to industry marketing
and practices, such as administration of pre-need funeral contracts. Additional regulation of
pre-need contracts is possible. Also being discussed is legislation or regulation that would
prohibit ownership of cemeteries by funeral home operators, or that would make common
ownership of funeral homes in a particular geographical area (“clustering”) more difficult.”
Additionally, there are political discussions and potential regulations related to cryogenics
(preserving the body).
Also, funeral directors must be licensed and regulated in states like Michigan, according to
the Michigan.gov website (https://www.michigan.gov/lara/bureaulist/cscl/licensing/prof/mortuary)
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