Question

To do a thorough environmental scan, a marketer must consider both current and potential ________ in designing a marketing strategy.

Answer 1

To do a thorough environmental scan, a marketer must consider both current and potential Competitors in designing a marketing strategy.

What is a Environmental scan?

• Environmental scanning is the examination of outside sources to find elements that affect a firm. Finding and consulting sources outside of the company is the key objective. Despite the fact that these sources cannot be controlled from the standpoint of the business, it is crucial to take them into account when making decisions.
• SWOT analysis is one well-liked technique for scanning the environment. Strengths, Weaknesses, Opportunities, and Threats are each represented by a letter, and each should be examined. The company's internal factors make up the company's strengths and possibilities, while external variables make up the company's weaknesses and dangers.
• Companies want the environmental scans they invest time and resources in to produce the most thorough results possible.

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