, PLEASE USE THIS DOCUMENT AS A GUIDE ONLY
QUESTION 1
1. Strategic marketing is built around four strategic questions. Analysis of the external
environment assists with answering one of these four strategic questions. Identify which one and
justify why external analysis fits that question.
This question is the foundational first step in the strategic marketing process. An analysis of the
external environment is crucial for answering it because it provides an organization with an
understanding of the uncontrollable forces that can impact its operations (MNM3709, Study Guide, p.
7). By examining the external environment, management identifies key opportunities and threats that
exist outside the company.
An external analysis helps a company understand its current situation by assessing the market
landscape, including competitors, customer trends, and broader macro-environmental factors.
Without this understanding, an organization cannot accurately gauge its position in the market or the
forces affecting it. This knowledge is essential before the company can decide "where do we want to
be?" and "how will we get there?" (Ja et al., 2020, p. 8). Therefore, the analysis of the external
environment fits directly into the "Where are we now?" question, as it provides the context for
current performance, challenges, and potential future changes.
QUESTION 1
1. Strategic marketing is built around four strategic questions. Analysis of the external
environment assists with answering one of these four strategic questions. Identify which one and
justify why external analysis fits that question.
This question is the foundational first step in the strategic marketing process. An analysis of the
external environment is crucial for answering it because it provides an organization with an
understanding of the uncontrollable forces that can impact its operations (MNM3709, Study Guide, p.
7). By examining the external environment, management identifies key opportunities and threats that
exist outside the company.
An external analysis helps a company understand its current situation by assessing the market
landscape, including competitors, customer trends, and broader macro-environmental factors.
Without this understanding, an organization cannot accurately gauge its position in the market or the
forces affecting it. This knowledge is essential before the company can decide "where do we want to
be?" and "how will we get there?" (Ja et al., 2020, p. 8). Therefore, the analysis of the external
environment fits directly into the "Where are we now?" question, as it provides the context for
current performance, challenges, and potential future changes.
