________ is the process of surveying the market environment to assess external threats and opportunities.
A) Distributing
B) Environmental scanning
C) Business planning
D) Overseeing
E) Promoting
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Question
________ is the process of surveying the market environment to assess external threats and opportunities.
A) Distributing B) Environmental scanning C) Business planning D) Overseeing E) Promoting Answer
15
Seconds
THE ANSWER IS B. The market environment must be assessed periodically in order to determine whether changes occurring make it necessary to adjust the marketing mix. This is called environmental scanning. There are many environmental influences that are outside the firm's control that must be monitored and assessed because of possible external threats and opportunities. These influences include the competitive, economic, technological, sociocultural, and political, legal, and regulatory environments.
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