MRK $233$ Winter $2024$

Exercise #$1-$ Powerful Market Forces $-$ NGA

Value $10\%$ of final mark

$12$ marks

Due Friday, January $27$th$,$ at $11$:$59$ PM$$ submitted through Blackboard Safe Assign

$1.$ Select an actual service company related to$,$ or in tourism or hospitality and, in your own words, briefly describe what the organization does. This should be a maximum of $1-2$ sentences. Do not copy and paste from the organization$$s website and please do not go through company history $($when founded, who founded, where, personnel, etc. $$ that information is irrelevant to this assignment$).$ Just describe in your own words what the company does, and the services provided. $(2$ marks$)$

$2.$ Review the five powerful forces we discussed in class and select just ONE of the $5$ Powerful Market Forces that you are interested in or that you believe has had or will have on the organization that you selected.

Then identify a significant impact$($s$)$ that this powerful force has had on the organization recently$/$or in the past $5$ years or you think might have an impact in the future. Be specific about the type of powerful force $($don$$t just list Social Changes. What aspect of Social Changes $$ less family time, changing population demographics, lifestyle etc.$).$ Then Provide any relevant background and$/$or context. For example, if you choose Social Changes as the Powerful Market Force, then the specific market force could be Immigration, or rising consumer expectations, or increasing number of women in senior executive positions in business. $($see class notes$)$ Then describe in depth, the impact$/$affect that this has had on the organization that you selected and its operations. Make sure to provide an example of the impact and RELATE it to the organization you selected. $(8$ marks$)$

Example:

The Government Policies Force has significantly impacted ride sharing organizations like Uber, and Lyft$.$ is provided below. The background$/$context for the government action or legislation is provided along with the impact$/$affect$($s$)$ on the operations of the organization. Do not use this Specific example $$ Insurance requirements if you select a ride sharing service as your organization. Ride Sharing services have been impacted by other government policy dierctives$/$legislation as well $$ Social changes, and Technology,

Note: You can use the template below for this assignment or you can use a report style format using subheads if you prefer. All submissions, template format or report format must also include:

$$ A separate cover page with the Assignment Name, Student Name, Course Code$/$ Section and Date.

$$ Bibliography with sources and citations

Listed below are the five Powerful Market Forces along with examples of the specific types of changes$/$trends that we discussed.

Businesses need to pay attention to these forces, or$,$ lose their competitive advantage. For example, with respect to Social Changes, the growing acceptance of alternative and social lifestyles is a powerful force that has caused organizations to rethink their marketing and operational practices towards the LGBTQ community. Another example for Government Policies$/$Legislation Market Force are the many impacts$/$effects on organizations because of the various government policies regarding the environment and the use of plastics and types of packaging materials, or legislation regarding food ingredients, and nutritional information disclosure for restaurants.

Please note, for this assignment, DO NOT SELECT government responses to the Covid

$19$ pandemic as a powerful force. This is well documented and much the same impact

for all companies around the world

$$ Government Policies $-$ Examples of changes and trends include:

o Changes in regulations

o Privatization

o New rules to protect customers, employees, and the environment

o Focus on quality and customer satisfaction

o New agreements on trade in services

o Environmental legislation

o Nutrition information

$$ Social Changes $-$ Examples of changes and trends include:

o Rising consumer expectations

o More affluence

o More people short of time $($families are busy, looking for convenience$)$

o Increased desire for buying experiences vs$.$ things.

o Rising consumer ownership of computers, cell phones, and high$-$tech equipment

o Ubiquitous$/$everywhere$/$easy access social networks

o Easier access to more information

o Immigration

o Growing but aging population

o Increasing acceptance of alternative and social lifestyles

$$ Business Trends $$ Examples of changes and trends include:

o Public organizations desire to increase shareholder value

o Emphasis on productivity and cost savings

o Manufacturers add value through adding and selling services.

o More strategic alliances and outsourcing

o Focus on quality and customer satisfaction

o Growth of franchising

o Marketing emphasis by nonprofits

$$ Advances in Technology $$ Examples of changes and trends include:

o Growth of the Internet

o Wireless networking