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What is environmental scanning?
AAuditing a factory for its impact on the local ecology
BTesting a prototype product with a group of end users
CCollecting and evaluating data on the outside world
DMeasuring how satisfied existing customers currently are
Answer & Solution
Correct answer: C. Collecting and evaluating data on the outside world
1. Environmental scanning is a continual process rather than a one-time study.
2. In it a firm collects and evaluates information about its external environment.
3. Many organizations assemble a team of specialists to do this work.
4. Ecological audits, prototype tests and satisfaction surveys are narrower and separate activities.
_Source: OpenStax Introduction to Business (CC BY 4.0), Ch 11 "Creating Products and Pricing Strategies to Meet Customers' Needs", section 11.2 Creating a Marketing Strategy_
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