Approaches to environmental scanning, Marketing Management

Assignment Help:

Approaches to environmental scanning:

1.       Systematic approach: in this approach, formats for various issues are developed and is done systematically in a step by step fashion. The information related to various factors viz. Regulatory, social, economic, technological, resources, etc. is collected which has direct bearing on the working of the company. Data on various factors is continuously collected and updated and their effect on various elements pertinent to the organization is studied. The variance of various factors is analyzed and their swing is worked out to estimate the impact of the changes. A system of assessment of the environment is prepared by the strategy manager followed by all the line managers in the organizations.

2.     Process information approach: information on environment and its various factors is available from trade papers, trade magazines etc, and many organizations prepare summary of the relevant information to keep themselves updated. The processed data is made available to the strategy management group for processing and drawing interferences on which corrective actions may be taken by a company.

3.       Ad Hoc approach: some companies collect specific information on selected environmental factors by conducting special studies. Such studies are usually conducted when a company wants to launch a special project. The impact of a project on various environmental factors is studied within the frame work of a specially designed study program and results are obtained through analysis using computer software of changes and developments may be studied using point projects and results extrapolated for use by strategy managers. 


Related Discussions:- Approaches to environmental scanning

Importance of effective communication, Importance of Effective communicatio...

Importance of Effective communication Effective communication is very important to organisations, which is why they use a variety of promotional tools. Advertising, sales promo

Assignment, You are required to develop a Marketing plan for an organizatio...

You are required to develop a Marketing plan for an organization strictly in either manufacturing or mining or services based in Oman. You need to select a product or service of

Explain about the price leadership, Explain about the Price Leadership. ...

Explain about the Price Leadership. Price Leadership: Price leadership strategy prevails within oligopolistic markets one member of the industry, due to its size or comma

Introduction to new product development, New product development: once a c...

New product development: once a company has carefully segmented the market, chosen its target customers, identified their needs, and determined its market positioning, it is bette

Canon comany, 3.2 Explain how distribution of Canon is arranged to provide ...

3.2 Explain how distribution of Canon is arranged to provide customer convenience

What is the disadvantage of exporting in marketing, What is the disadvantag...

What is the disadvantage of exporting in marketing? The disadvantage is largely that one can be at the “ mercy ” of overseas agents and therefore the lack of control has to be

Product mix, The portfolio of products that a given organization produces f...

The portfolio of products that a given organization produces for market consumption is the product mix.

Shoppersstop, Draw the typical profiles of shoppers stop customers segments...

Draw the typical profiles of shoppers stop customers segments

Marketing management philosophies, Marketing management philosophies 1...

Marketing management philosophies 1.      The production concept: The production concept holds that consumers will favour products that are available and highly affordable;

Product mix, product mix of the lg company

product mix of the lg company

Write Your Message!

Captcha
Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd