Business Policies
The retail store that specializes in selling high-end quality furniture, Kacey Fine Furniture, faces an inherent problem as the LoDo district of the city of Denver decides to expand its downtown area with entertainment facilities. Originally, Leslie Fishbein, president of Kacey Fine Furniture, thought the location of the building was in a prime commercial area with a growing community of families and decided to renew the building’s lease, but after renewing the lease a plan was introduced to build a new basketball stadium right behind the store. Parking is already insufficient, so building a facility behind the store would simply make matters worse in that no one would want to travel through downtown traffic to buy and move furniture. Since Fishbein cannot renegotiate her lease the furniture store must remain in the congested location for another six years. The consumer market in LoDo includes many factors that pertain to the general environment model, which include the economic, global, demographic, sociocultural, and political segments. Before LoDo focused on the entertainment industry the area dealt with some economic downturns due to political and global factors. The national economy relied heavily on foreign oil during the late 1970s, which in turn created high unemployment in Denver and a deteriorated downtown.