Environmental scanning is one technique used by organizations to monitor the environment.
Companies which have the environmental management perspective take actions to influence their marketing environment.
Marketers can respond in three basic ways to their environment – doing nothing, being proactive, or reacting.
Capability management uses the organization's customer value proposition to set goals for capabilities based on value contribution.
Companies must conduct competitive analysis to identify their competition accurately, and must avoid defining the competition too narrowly.
Market share is an important indicator of the strength of a business in it's industry, even though there is no standard way to measure it.
Companies must monitor competition in order to make intelligent marketing decisions based on how competitors operate.
Marketers must be aware of the business cycle, and react appropriately according to which stage of the cycle the economy is in.
The CPI and CCI are measures of the strength of the economy, and perceptions of businesses and individuals towards the economic future.
Companies doing business outside of the US should be aware that the political environment can differ greatly.
Companies must abide by existing laws and regulations when doing business in a country; these laws may influence marketing activities.
Whether doing business abroad or locally, marketers must understand the cultures that govern customers' buying habits and ethical norms.
Marketers must understand the different demographic groupings that exist and the demographic changes that are constantly occurring.
Marketers must be able to anticipate and adapt to future trends and technological advancements in order to stay ahead of the competition.
Technologies such as the web, mobile phones, social media, and customer relationship management systems greatly affect modern marketing.
New technologies in online marketing -- smart phones, CRM systems, and social media -- can aid marketers in reaching new and existing customers.
Innovation trends in marketing include mobile marketing, viral marketing, and more efficient usage of branding and targeting.