An environmental scan is a crucial aspect of the marketing process that involves collecting and analyzing information about the external and internal factors that can affect an organization's marketing efforts. It helps organizations understand their operating environment, identify opportunities and threats, and make informed decisions about marketing strategies and tactics.
One example of an environmental scan in marketing is a company that sells organic skincare products. The company conducts an environmental scan to better understand its target market and the trends and preferences of consumers in the skincare industry.
During the environmental scan, the company collects data from various sources, including industry reports, customer feedback, social media, and market research surveys. The company analyzes this data to identify key trends in the skincare industry, such as the increasing demand for natural and organic products and the growing concern about the environmental impact of beauty products.
Based on the results of the environmental scan, the company adjusts its marketing strategies and tactics to better meet the needs and preferences of its target market. For example, the company may focus more on promoting the natural and organic ingredients in its products, or it may emphasize the environmental sustainability of its packaging and production processes.
The environmental scan also helps the company identify potential opportunities and threats in the market. For example, the company may discover that a new competitor has entered the market with a similar product line, which could pose a threat to its market share. On the other hand, the company may find that there is a trend towards eco-friendliness in the industry, which could present an opportunity for the company to differentiate itself from its competitors and appeal to consumers who value sustainability.
Overall, an environmental scan is a valuable tool for organizations in the marketing process, as it helps them understand their operating environment, identify opportunities and threats, and make informed decisions about marketing strategies and tactics.