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Marketing 2018 19th Edition

Marketing 2018 (19th Edition)

Book Edition19th Edition
Author(s)Ferrell, Pride
PublisherCengage Learning
Chapter 3, End of Chapter , Discussion and Review Questions , Exercise 1
Page 90

Why are environmental scanning and analysis important to marketers?

Here is a tip:

Competitive advantage is the scenario where one firm has an advantage over its nearest competitors in terms of serving the target group.


Environment scanning is an analysis of environmental factors needed to run a business and serve consumers based on their needs. 


Environmental scanning and analysis is an important process in today's dynamic business world:

  • It helps the marketer to collect data from the market and other competitors and carefully analyze them to gain an edge over their nearest competitors. 
  • It helps in grabbing the opportunities in the market and developing strategies to overcome the threats. 
  • It helps to judge the changes in the condition of the business environment. Thus marketers can keep updating their current marketing strategies based on it.

Verified Answer

Environmental scanning and analysis are important to marketers as it helps them to address current market needs and gain a possible competitive advantage. It helps the marketers to keep track of present marketing activities and utilize the opportunities to the best of their advantage. 

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