THE IMPORTANCE OF ENVIRONMENTAL SCANNING FOR SUCCESSFUL MARKETING: AN ANALYSIS OF INTERNAL AND EXTERNAL FACTORS

Abstract

The marketing environment is a complex and rapidly changing landscape that poses significant
challenges to businesses seeking success in the market. In order to thrive, businesses must adapt to the internal
and external forces that affect marketing decisions and their ability to establish successful relationships with
customers. Environmental scanning is a critical process for businesses seeking to identify and respond to
opportunities and threats in the marketing environment. This involves the collection, filtration, and analysis
of information related to the environment of marketing, enabling businesses to keep up to date with changes
and make the necessary adaptations to their strategies. Internal factors such as human resources, finance, and
management, as well as external factors such as competitors, technology, and the economy, can significantly
impact a business's success in the market. The micro environment, which includes suppliers, customers,
competitors, marketing intermediaries, and the public, and the macro environment, which includes factors
such as demography and the economy, must also be considered. This paper emphasizes the need for businesses
to stay vigilant of the changes in the environment and to adjust their strategies accordingly with a focus on
meeting consumer needs. Additionally, the paper highlights the importance of marketers in scanning the
environment properly and dealing with possible threats in the market while availing the best opportunities
available. By identifying the changes and policies that need to be implemented and their potential impact,
environmental scanning provides businesses with a competitive advantage as they seek to establish a
successful relationship with their customers.