Environmental Scan
The terms that make up the PESTLE acronym. (Get at least 4 to earn points)
What are Political, Economic, Sociocultural, Technological, Legal, and Environmental?
The 4 P's of the marketing mix.
What are product, price, place, and promotion?
The four terms that make up a SWOT analysis.
What are strengths, weaknesses, opportunities, and threats?
This marketing function involves identifying new markets and potential customers for a product or service.
What is marketing-information management (or market research)?
This term refers to a company's initiatives to assess and take responsibility for its effects on environmental and social wellbeing.
What is CSR?
This marketing concept refers to adapting a company's strategies and products to suit different cultural markets worldwide.
What is sociocultural?
This "P" of the marketing mix refers to the cost a customer pays for a product or service.
What is price?
A new technology that could help a company grow would be listed under this category in a SWOT analysis.
What are Opportunities?
This marketing function involves moving goods from producers to consumers.
What is distribution?
This term refers to two companies that offer similar goods or services.
What is direct competition?
This factor in an environmental scan analyzes regulations, patents, and potential litigation that could impact a company's marketing strategy.
What is legal?
This term refers to the part of the marketing mix that deals with where products are.
What is place?
Opportunities and Threats in a SWOT analysis are considered these types of factors.
What are external factors?
This marketing function involves persuading potential customers to purchase a product or service.
What is selling?
This concise message outlines a company's purpose, goals, and values, serving as a guiding principle for all business activities.
What is a mission statement?
This coffee giant's 2008 decision to close 600 stores was heavily influenced by its environmental scan of this factor, which showed a severe downturn affecting consumer spending.
What is economic?
This term describes the group of people a company aims to sell its products or services to.
What is the target market (or target audience)?
Amazon's brand recognition is an example of this term in a SWOT analysis.
What is a strength?
The marketing functions. (name at least 4 to earn points)
What are product/service management, distribution, selling, pricing, promotion, marketing information management, and market planning?
This term refers to an organization's portion of the total industry sales in a specific market.
What is market share?
The purpose of completing an environmental scan is to gain information about these factors.
What are environmental factors?
This P would ask the question, “What type of packaging should we use for the product” fall under?
What is Product?
The internal factors of the SWOT analysis.
What are strengths and weaknesses?
This marketing function involves creating the correct product mix for a business.
What is product/Service management?
This term refers to tangible items that should last a long time.
What are durable goods?