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Posted: March 24th, 2024
Benefits of Environmental Scanning
In essence environmental scanning considers political, economic, social, technological and legal factors before investing in the target market. Nokia is not exceptional from the intense competition that the industry is subjected to not only in Finland but all over the world. The company management therefore has to come up with viable marketing strategies in order to attain its competitiveness as well as meet the needs and demands of its customers through provision of high quality prescription drugs and other non-medical products.
Environmental scanning provides the company with business models, marketing strategies and new innovations in the telecommunication and network operation sector. Environment scanning in essence ensures that the following objectives have been met; meet specific needs for of diverse market for their products, maintain economies of scale as well as to increase production efficiency in the company (Carter and Lee, 2005).
Therefore environmental scanning of Nokia will ensure formulation of effective strategies required to meet the core principles of the overall set objectives in order to fully exploit the mobile industry market through offering new models of phones with salient features such as music. Environmental scanning further propels market and customer operations that have for a long time supported the various business ideologies available to the company. More importantly environmental scanning enables a company to clearly know of its market position in the market place.
Therefore such analysis will aid the firm to get to know more of its customers and its competitors in the market place. Therefore description of the firm’s customers will be carried out in order to clearly meet their needs by producing products of high quality to them. This implies that the customers needs have to be evaluated in order to avoid future setback in terms of product performance. Under this section too, for instance, Nokia should outline the main distinctive reason why the customers should choose there products for their use and not those of the competitors (Schon, and Allan, 1995).
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