When a manager reads publications like The Wall Street Journal and BloombergBusinessweek to try to determine changes in consumer behavior and employment issues, this is a form of _____,
A) environmental scanning
B) model building
C) database marketing
D) data mining

Question

Quizplus · Accepted Answer

Environmental scanning is the process of analyzing and gathering information about the external environment to identify trends, opportunities, and threats that may impact the organization. Reading publications like The Wall Street Journal and BloombergBusinessweek to determine changes in consumer behavior and employment issues falls under this category. Model building refers to creating statistical models to help managers make decisions, database marketing is using customer data to personalize marketing efforts, and data mining involves extracting patterns from large datasets.

When a Manager Reads Publications Like the Wall Street Journal