English and Marketing

Description

Marketing Environment Discussion: Toys R Us In this unit, we learned about how important it is for organizations to pay attention to the marketing environment for their line(s) of product(s) and/or service(s). We watched a video about Toys R Us, which went into liquidation in 2018 closing virtually all their stores throughout the world partly as a result of not focusing on the marketing environment. This company essentially failed to adapt to a significantly changing marketing environment. They maintained their large-scale supermarket retailing model for over 50 years without considering trends in retail design, retailing itself, changing consumer needs, technology and online factors. Based on what you read in this chapter and what you learned from the video and any additional research, list as many factors and changes that contributed to the decline in Toys R Us commercial success as you can think of. Categorize those factors into the main marketing environment components (social factors, demographic factors, economic factors, political and legal factors, and competitive factors) and rank the factors in terms of which ones were the most significant in the downfall of Toys R Us in your opinion.