Which of the following is the process in which a firm continuously collects and evaluates information about its external environment?
A) external monitoring
B) marketing research
C) secondary data collection
D) environmental scanning

Question

Quizplus · Accepted Answer

Environmental scanning involves continuously collecting and evaluating information about the external environment of the firm, including economic, political, legal, technological, and social factors. External monitoring and marketing research are related concepts, but they do not necessarily encompass the comprehensive approach of environmental scanning. Secondary data collection refers specifically to the use of existing data sources rather than collecting new data.

Which of the Following Is the Process in Which a Firm