Question

Given the uncertain nature of predicting the future, should marketing managers place importance on an external review of the environment? Justify your answer.

Answer 1

answer-

yes, Marketing managers should place importance on an external review of the environment because A marketing manager is the person who makes plans and decisions for marketing a product or services and all these plans and decisions are based on future which is uncertain only thing a marketing manager can do is to predict to a certain extent so that they can minimize the risk associated with the decision and this can be done only if they take external factors review more than internal factors. Internal factor review can be controlled but the external factors like Technology, Customers, Political, Society etc are unpredictable and can not be controlled. so Their Review is very necessary in predicting the furure.

for example- A marketing manager seeks the trend in customer need for health smart product like Smart watch, Smart shoes etc and he plans and makes his decision to sell these products to his target market then his decision would be good because the smart fitness products are in trends and liked by customers.

another example where is A company hires a manager of marketing who makes the decision of selling old keypad smartphones in the market but technology environment is now of smartphones with big notchless touch display then that would be the worst marketing decision to bring old tech in this market.

so, Marketing managers in order to predict the future more accurate should always consider review of external environment factors.