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WorksheetsMy report
Total questions: 10
Worksheet time: 4mins
What is not in definition of international market scanning?
is the process of continually and actively monitoring the external environment
identify customer needs, anticipate competitive actions
identify technological changes
capacity to produce profit and shares
What is not to consider in market scanning?
politics
economy
machine
environment
whos responsible for market scanning?
Managers
CEO
Supervisor
all of the above
which of the ff is not a need for market scanning?
identification of strength
identification of weakness
identification of threat
identification of legal opportunity
because it is impossible to comprehend all the factors and changes in scanning market, they are often rely on simple models of external environment called?
SWOT Analysis
PESTLE analysis
Cognitive maps
survey and stat
PESTLE stands for?
Politics, Environment, Society, Technology, Legal, Ecology
Power, Environment, Society, Technology, Legal, Economy
Politics, Entity, Society, Technology, Legal, Economy
Politics, Environment, Society, Technology, Legal, Economy
One of the main drivers of innovation is
economic unstability
change in the market environment
trend
political policy
what is the purpose of PESTLE analysis?
Analyze level of competition within an industry and business strategy development
Identify major forces that will influence an industry’s profit and competitive potential.
Audit of an organization's environmental influences with the purpose of using this information to guide strategic decision-making.
Identify a firm's core competencies and distinguish which activities that drive competitive advantage.
Why market scanning is important?
critically important since it provides analytical process that determine consumer wants
critically important since it provides process for environmental needs and promotes equality for consumer and producer
critically important since it provides informational inputs for the development of strategies and specific market-based decisions
critically important since it provides economic freedom
Why do we need to scan the market?
helps to identify strength weakness, opportunities and threats.
helps for the business to grow
increase the chance for the business to adapt changes
Identify a firm's core competencies and distinguish which activities that drive competitive advantage.
