why is environmental scanning and analysis so important iden

why is environmental scanning and analysis so important? identify the elements ( This is an organizational sales and marketing question)

Solution

Sales & marketing activity is all about getting more market share in a highly competitive market and at the same time stay optimally profitable.

So to achieve higher sales, this requires taking various decision related to product features, prices, location, advertising etc. So for these decisions the foremost thing is to understand the target market or external enviournment so that we can understand who are our coustmers, what are their needs & tastes, what are their income levels, which is competitors prices, how is the regulations etc. That enables then the company to make pricing , product features ( size, color etc.) and channel of advertising decisions so that customers buy their product. So to understand the market environmental scanning & analysis is the technique that will help teh company to make sound decisions and stay successfully in highly competitive market.