Ll Bean Environmental Analysis

Environmental scanning is the act of collecting external marketing information. This information is then interpreted to find potential trends, and identify future market opportunities or threats. The types of environments analyzed are competitive, political-legal, economic, technological, social, and demographic. I have chosen to focus on the company L.L. Bean, and the social and competitive environments. I have chosen this company because I am a very big fan of their products, and I chose these environments because I think L.L. Bean is very good at influencing and marketing in these areas.
To begin, the social environment includes people’s attitudes, values, and lifestyles. These factors “influence the products people buy; the prices paid for products; the effectiveness of specific promotions; and how, where, and when people expect to purchase products” (49). Furthermore, within the social environment are component lifestyles. With these lifestyles, people are “choosing products and services that meet diverse needs and interests” (49). With these lifestyles, more people are willing to explore various hobbies and activities. For L.L. Bean, which is a store specializing in outdoor recreation equipment, component lifestyles are very important, and has led to the creation
The external environments reshape the target market, and marketing managers must know how to respond to these changes to maintain profits. By looking at L.L. Bean, the effects of external marketing environments on the sales for the company is evident. In the social environment, the company capitalizes on component lifestyles and expands its number of customers. In the competitive environment, L.L. Bean is able to put itself above bigger companies by putting customer satisfaction first. By influencing in specific factors of the external environment, marketers are better able to control and expand their