Marketing Managment Essay Example | Topics and Well Written Essays - 2000 words

Marketing Managment - Essay Example Today’s world of marketing is filled with a lot of competitors. For identifying about the competitive strategy, it is essential to depends on the environmental scanning, a concept derived from Business Management itself. For ensuring the competitive advantage, it is necessary to make certain variation in to the strategies and relevant policies maintained by the business concern. Environmental scanning is a perception about the external environment, which provides a considerable idea to the management authority of an entity to take the most appropriate decisions relating to the business in ensuing future. This scanning is beneficial for analyzing various opportunities, attaining the sustainable competitive advantage and also to accomplish various goals of the entity. The prediction of environmental factors is uncertain; then there should be a tendency to undertake more scanning. In addition to the scrutinization of environmental performance, it is necessary to examine the strategies of the organization also; it will lead towards the organizational scanning. While undertaking the scanning of an environment, it is necessary to collect various in formations affecting the marketing areas. But on the other hand, in case of organizational scanning, number of information is available, but stress should be given only for own sources of the entity. Both these in formations or sources so collected are utilizing for developing the strategic plans. In addition to this, as far as the scanning procedure is taken in to consideration, the top level managers are undertaking the scan concept than the operational or bottom level managers. While undertaking strategic planning, it is essential to conduct both internal and external analysis. Environmental scanning is an important external analysis concept, which is necessary to evaluate the