Which of the following statements regarding environmental scanning is the most accurate?
A)Environmental scanning changes the marketing environment.
B)Environmental scanning identifies and interprets potential trends.
C)Environmental scanning should be done at least every five years.
D)Environmental scanning focuses primarily on ecological factors.
E)There is too much information generated from environmental scanning to make it viable for small firms.

Question

Quizplus · Accepted Answer

Environmental scanning is the process of identifying and interpreting potential trends and changes in the marketing environment. It helps companies stay aware of developments in their industry that could impact their business. It is an ongoing process that should be done on a regular basis, rather than only every five years. While ecological factors are certainly part of the marketing environment, environmental scanning should take into account a range of factors including economic, technological, social, and political factors. While environmental scanning can generate a lot of information, it is important for small firms to engage in this process, as it can help them identify opportunities and threats in their industry.

Which of the Following Statements Regarding Environmental Scanning Is the Most