Asked by Michelle Marquez on Jun 14, 2024
Verified
List the five environmental forces that have an impact on an organization as well as its suppliers and customers. Provide examples of factors that might be examined as part of environmental scanning for each of these forces.
Environmental Scanning
The continuous process of gathering information about external influences and trends to identify opportunities and threats affecting an organization.
Environmental Forces
External factors such as social, political, ecological, and legal aspects that affect an organization's decisions and performance.
- Acquire knowledge about the role of environmental forces in shaping an organization's marketing environment.
Verified Answer
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Alisa DayanaJun 15, 2024
Final Answer :
The following environmental forces have an impact on the organization: (1) social-demographic shifts and cultural changes; (2) economic-macroeconomic conditions and consumer income; (3) technological-changing technology, technology's impact on customer value, and electronic business technologies; (4) competitive-alternative forms of competition and small businesses; and (5) regulatory-laws protecting competition, laws affecting marketing mix actions, and self-regulation. See Figure 3-1.
Learning Objectives
- Acquire knowledge about the role of environmental forces in shaping an organization's marketing environment.
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