Performing an Environmental Scan of Today\'s Marketplace Marketers must be conti
ID: 1135497 • Letter: P
Question
Performing an Environmental Scan of Today's Marketplace Marketers must be continuously looking for events in the marketplace that might affect their offerings. These changes in the marketplace might be opportunities to capitalize on or threats that must be managed. The process of continually gathering information on and interpreting the trends found in the external environment is called environmental scanning Firms conducting environmental scanning are likely to discover many changes in the external marketplace. For example, are more consumers avoiding foods that contain trans fats? Is there new technology in development that will allow computers to use all five senses to create intelligent data collection and personalized predictive capabilities? Environmental forces typically arise from five sources: social, economic, technological, competitive, or regulatory Read each description of the environmental force and then drag it into the correct category 1st Products Inc. Autonomous botsNueva York Te Yuan value Drone delivery Amo Power plant emissions ATV fun Off to work Money to spendVerizon FiOs Technological Forces Social Forces Economic Forces Competitive Forces Regulatory ForcesExplanation / Answer
Each description can be put in the following way in their broad category.
Social Forces: Nueva York Te Amo
Economic Forces: Off to work, Money to spend, 1st Products Inc,
Technological Forces: Verizon Fios, Drone Delivery, Autonomous Bots.
Competitive Forces: ATV Fun, Yuan value.
Regulatory Forces: Power Plant Emissions.