Environmental scanning, Marketing Management

Environmental scanning:

Future is unpredictable, but the marketer can obtain appraisals of what is most probable. To monitor changes in the marketing environment effectively, marketers must engage in the scanning and analysis of the environment. Environment scanning is a process of collecting information about the forces in the marketing environment. Scanning involves observation, perusal of secondary sources of information such as business and the trade journals and magazines and government publications, reports and marketing research efforts. In other words, environmental scanning consists of the following and analyzing environmental influences individually and collectively to determine their potential effects on an organization and the consequent problems and opportunities. The process by which organizations monitor and their relevant environment to identify opportunities and threats affecting their business is known as environmental scanning. The importance of the environmental analysis lies in its usefulness for evaluating the present strategy, setting strategic objectives and formulating future strategies. The fortunes of the business enterprises are known to have been determined by changes in the social, economic, political, business and industrial conditions. 

Posted Date: 9/19/2012 3:53:52 AM | Location : United States







Related Discussions:- Environmental scanning, Assignment Help, Ask Question on Environmental scanning, Get Answer, Expert's Help, Environmental scanning Discussions

Write discussion on Environmental scanning
Your posts are moderated
Related Questions
1. Discuss Lipton's bases for segmenting Lipton's consumer markets. 2. Examine Lipton's target marketing strategy from the product offering seen above. 3. Explain and determine t


Theory of Noncomputability, Define Noncomputability When we want to specify the elements of a set that contains only a few elements, the most direct and obvious way is to exhau

Elements/Component of print Advertising Copy:- Advertising-Copy is prepared subsequent to combining various components or elements of Ad-copy. Elements and Components of ad-cop

Broad Cast Media:- It includes advertisement in television , ratio and cable etc. It varies from print advertising media as it has both audio and visual effect. Broadcast is a med

what is modern and traditional value delivery approach???

What are the facilitating participants of distribution channels? Facilitating Participants: Financial Institutions: Financial institutions give the essential finances

Relationship Marketing This approach is used to marketing emphasizes the importance of personal relationship building with all parties among consumers, suppliers and distributo

What is Maturity Stage in marketing strategies? Maturity Stage: a. Try to convert non users in utilize of product. b. Enter latest market segments. c. Try to along

¨ Enclosed you will find our estimate of Well Water's most recent income statement and its current balance sheet. Please note that the asset values are estimated market value