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__________ involves the analysis of economic, political, legal, technological, and cultural events and trends that may affect the future of the organization and its marketing efforts.
A) Competitive intelligence
B) Environmental scanning
C) Tactical planning
D) Marketing research
E) External analysis
Environmental Scanning
is the process of systematically gathering information about the external environment to identify potential threats and opportunities.
Competitive Intelligence
The process of gathering, analyzing, and using information about competitors, market trends, and the business environment to support strategic decision making.
- Recognize the importance of environmental scanning for the detection of marketing opportunities and threats.
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Learning Objectives
- Recognize the importance of environmental scanning for the detection of marketing opportunities and threats.
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