Marketers cannot control, and often cannot even influence, elements in the macro-environment, so why bother collecting data and analyzing the data for insights?
A) Federal and state laws require extensive record-keeping.
B) The American Marketing Association mandates collection of data for professionalism in marketing.
C) Marketers are looking for ways to create competitive advantages.
D) Consumers expect firms to understand their problems and individual needs.

Question

Quizplus · Accepted Answer

Marketers collect and analyze data on the macro-environment to identify trends and changes that could present opportunities or threats to their company. By understanding these external factors, they can develop strategies to create competitive advantages, even though they cannot control these elements directly.

Marketers Cannot Control, and Often Cannot Even Influence, Elements in the Macro-Environment