Question

please answer all questions and explain in detail according to the subheadings

Explain the importance of "environmental scanning" when making marketing plans and strategic plans in general

A. Marketing Plans

B. Strategic Plans

Answer 1

A. Marketing Plans:

Environmental scanning to develop marketing plans is essential for every business. Every product or service has target customer. First thing to do is study the type customer you have around your environment or society. Understanding target customer group and developing marketing plans to reach team with your product is the key. Environmental scanning involves income group, age group, social status, country, ethnicity etc. Marketing plan should be innovative enough to deliver the message to target customer about the the product or services. Hence, environmental scanning is very important for marketing plan.

B. Strategic Plans: Strategic plans involves steps need to be taken for making a successful business. For example, company A is US company but it want to expand it's business into India. To enter into the Indian market company A must study the state law, country law, tax information and most importantly the buying behavior of target Indian customer. Mcdonalds Inc. has to come up with Veg burger and eliminate beef and pork burger to sell it's burger to the Indian customer.Hence, environmental scanning is also very important for strategic plans.