A review of external sources to discover factors that impact a business. The main goal is to identify and consult sources outside the business
Why scan the marketing environment?
To identify customer needs
To anticipate competitors actions
To identify technological changes
To identify new market opportunities
To determine if a product or service market would be beneficial
Opportunity spotting and assessment
This is the beginning of the process and is considered the most difficult. Entrepreneurs at this point take note of interesting trends in their environment
