68 3 LEARNING OBJECTIVES After reading this chapter you should be able to: LO1 Scanning the Marketing Environment WEB 2.0 IS ALL ABOUT YOU! The Web is changing at an extraordinary pace and each new change provides more customization and convenience for you. If you use Myspace. com, Del.icio.us, Secondlife, or any one of hundreds of new products on the Web you are already part of the new world of the Web! Not long ago the Web simply provided a modern channel for traditional businesses
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Strategic planning is key to the success of any organization. According to Wheelen and Hunger, strategic management is a compilation of goals that will determine the future of an organization. Strategic planning includes internal and external environmental scanning, strategic or long-range planning, implementation, followed by evaluation, and control (2010). An organization will attempt to follow the four phases of strategic management to ensure success. The four phases are financial planning, forecast-based
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process. Step one of this process is environmental scanning. This will include both external and internal scanning; this scanning includes monitoring, evaluating and understanding the information and distributing to management within the company. The simplest way to conduct environmental scanning is the SWOT analysis (Wheelen & Hunger, 2010), this will be covered later in more detail however to information gathered from both SWOT and environmental scanning processes will provide the necessary
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Kerin−Hartley−Berkowitz−Rudelius: Marketing, Eighth Edition I. Initiating the Marketing Process 3. Scanning the Marketing Environment © The McGraw−Hill Companies, 2005 Kerin−Hartley−Berkowitz−Rudelius: Marketing, Eighth Edition I. Initiating the Marketing Process 3. Scanning the Marketing Environment © The McGraw−Hill Companies, 2005 CHAPTER 3 SCANNING THE MARKETING ENVIRONMENT IT’S SHOW TIME! Don’t blink, because the world of entertainment is changing faster than
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clientele spans the entire Southeast region of the Unites States. Looking at environmental factors that must be taken into consideration by company managers, factors relevant to the decision making process will be examined. Recommendations will be made to managers to decide if production should continue or discontinue as well as how to improve profitability to become more attractive to stockholders. The company’s environmental scan will help managers determine if the company can sustain and what changes
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Through a SWOT analysis and further research, Team B realizes that there are options available to overcome and take advantage of this area of opportunity. To reach the long and short-term goals of Riordan, a differentiation focus is the most beneficial competitive strategy to manage threats, trends, and opportunities. The differentiation focus will make sure to dial in on specific endeavors on total quality improvement and expediential growth in the markets of the United States and China. The company
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over 38 countries. The company is headquartered in Stockholm, Sweden and employs approximately 87,000 people on a full-time basis. This thesis focused on the strategic management of H&M company. The main research problem was to make an in-depth analysis of its marketing strategy and how to implement it. The main research method was a qualitative research by analyzing their company data, annual reports and making interviews with the manager, staffs and customers in Kuopio shop. The thesis starts
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beneficial arrangement in which buyer and seller focus on the creation of satisfying exchanges. A) True B) False 14) To effectively monitor changes in the marketing environment, marketers must engage in A) environmental scanning and analysis. B) marketing
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Chapter 2 The External Environment: Opportunities, Threats, Industry Competition, and Competitor Analysis KNOWLEDGE OBJECTIVES 1. Explain the importance of analyzing and understanding the firm’s external environment. 2. Define and describe the general environment and the industry environment. 3. Discuss the four activities of the external environmental analysis process. 4. Name and describe the general environment’s six segments. 5. Identify the five competitive
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in-depth analysis of its marketing strategy and how to implement it. The main research method was a qualitative research by analyzing their company data, annual reports and making interviews with the manager, staffs and customers in Kuopio shop. The thesis starts with a general introduction and some background information of this thesis work. In the theoretical part, it described the definition, process, benefit and challenge of strategic management .In the practical part, an exhaustive analysis on the
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