CLEP Marketing

Category - Environment

A car manufacturer researches the market-environment forces for its newest car in a process referred to as
  1. Materials scanning
  2. Technological scanning
  3. Price scanning
  4. Environmental scanning
  5. Competition scanning
Explanation
Answer: D - A car manufacturer researchers the market-environment forces for its newest car in a process referred to as environmental scanning. Environmental scanning allows information about the six forces of the market environment: competitive, economic, political, legal and regulatory, technological, and sociocultural. The scanning process involves gaining information from secondary sources; namely, trade, government, and business publications. Environmental scanning gives organizations a competitive edge through a thorough discovery of current trends and the prediction of future ones.
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