Approaches to environmental scanning, Marketing Management

Assignment Help:

Approaches to environmental scanning:

1.       Systematic approach: in this approach, formats for various issues are developed and is done systematically in a step by step fashion. The information related to various factors viz. Regulatory, social, economic, technological, resources, etc. is collected which has direct bearing on the working of the company. Data on various factors is continuously collected and updated and their effect on various elements pertinent to the organization is studied. The variance of various factors is analyzed and their swing is worked out to estimate the impact of the changes. A system of assessment of the environment is prepared by the strategy manager followed by all the line managers in the organizations.

2.     Process information approach: information on environment and its various factors is available from trade papers, trade magazines etc, and many organizations prepare summary of the relevant information to keep themselves updated. The processed data is made available to the strategy management group for processing and drawing interferences on which corrective actions may be taken by a company.

3.       Ad Hoc approach: some companies collect specific information on selected environmental factors by conducting special studies. Such studies are usually conducted when a company wants to launch a special project. The impact of a project on various environmental factors is studied within the frame work of a specially designed study program and results are obtained through analysis using computer software of changes and developments may be studied using point projects and results extrapolated for use by strategy managers. 


Related Discussions:- Approaches to environmental scanning

Explain marketing communication tools, QUESTION Environment is a facto...

QUESTION Environment is a factor in the development of planned communication. Competitors can think of changing the way of presenting their services and products and ultimatel

Marketing information, Marketing information: to perform the complex task ...

Marketing information: to perform the complex task of marketing the marketer needs many pieces of information as a basis for drawing marketing decisions. Market information as a b

How is selling of products performed on web marketing, How is selling of pr...

How is selling of products performed on Web Marketing? An organization sell their products straight to consumer, employ trading networks or auction sites to arrive at new custo

Illustrate about the nature of the company, Illustrate about the Nature of ...

Illustrate about the Nature of the Company A firm having enough financial resources can afford to its own a distribution force and retail outlet, both. However most business fi

Marketing segmentation concepts , Describe the concept of market segmentati...

Describe the concept of market segmentation, targeting and positioning (STP''s) with a typical example of either a product or an organization you are familiar with.

SALES MANAGEMENT, Discuss the basic steps involved in management of the org...

Discuss the basic steps involved in management of the organization''s sales force:setting sales force objectives

Introduction to market segmentation, Market segmentation Concept and d...

Market segmentation Concept and definition: the concept of the market segment is based on the fact that the markets of the commodities are not homogenous but they are heterog

Explain about the sales promotion, Explain about the Sales Promotion S...

Explain about the Sales Promotion Sales promotion comprises numerous marketing techniques which are often used tactically to provide added value to an offering, with aim of ac

Mcom, the various approaches that are followed by FMCG companies in test ma...

the various approaches that are followed by FMCG companies in test marketing

Write Your Message!

Captcha
Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd