A scenario analysis is best described as a tool used by firms to ________.

A) conduct global market research
B) plan future marketing responses
C) analyze strengths of competitors
D) collect situation assessment data

Scenario Analysis

A process of analyzing possible future events by considering alternative possible outcomes or scenarios.

Global Market Research

The process of gathering and analyzing data on a global scale to understand market trends, customer preferences, and competitive landscapes across different countries.

Marketing Responses

The strategies or actions taken by companies to adapt and react to changes in the market environment.