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
Explain about the concept of value. Concept of Value: Various customers look for different benefits from identical product. Thus, the value of a product differs by one cus

marketing impact of well designed service guarantee

: At a high school they are getting new chalkboards. The old ones were large and square shaped. THE new ones are rectangular The length of the new white board ise 5 feet longerthan

If b+c=3a,then the value of cotB/2 cotC/2 is equal to....

What are the tools of marketing in words of McCarthy? McCarthy classified such tools in four broad groups, that he called the four Ps of marketing: Price place, Produ

What is Speciality Goods Due to some special characteristics of certain categories of goods people generally put special efforts to buy them. They are ready to buy these goods

Problem 1 "The outside world is usually considered as a domain of threat and opportunity. So the context in which organization see themselves against the outside world is extre

Advertising is frequently criticized for its excessive persuasiveness. It creates unnecessary want for the products which buyers don't need or can't afford. Occasionally by promoti

what is the relationship between 4ps of marketing mix?

detail note on pricing strategies of any product