Most successful firms have a clearly defined, well-written marketing plan that specifies the marketing activities to be performed to implement, manage, and evaluate its marketing strategies.
The typical marketing plan has multiple components which are based on information derived through environmental scanning.
Environmental scanning is a management strategy that focuses on systematically acquiring informations about occasions, trends, events or patterns through surveys and analysis of these information in an organisation's external and internal environment. The informations acquired through environmental scanning is then used by the executive management in strategically planning the organisation's future and exploitation of available opportunities for the success of the organization.
The internal environmental scanning offers an organization strength and weakness while the external environmental scanning provides information about opportunities and threats while the external environmental scanning gives an overview of the opportunities in the market as well as potential threats to an organization.
Which course of action maximizes my net benefits? should not be asked because it does not uphold the rights, values and legal contract of the larger society and does not act in the best interest of others.
A. Review the budget to identify other areas where costs can be cut.
Explanation:
In the case when the vendor increased the material cost that planned and the increased cost would also be placed in your project i.e. over budgeted so the first thing you should do is review the budget by identifying the areas where the cost cutting to be done
Therefore as per the given situation, the option A is correct
Answer: (D.) The Iberian economy is going through a period of deflation.
Explanation:
Real interest rate can be denoted using the following formula. i.e.,
Real interest rate = Nominal Interest rate - Inflation.
∴ In this particular case the Real interest rate will rise only if the economy is going through a period of deflation and deflation rate is larger than fall in interest rate.
