Ethan Hathaway recently graduated from an East Coast university and has joined a small start-up based in New York City. One of his first assignments is to work collaboratively with other members of the marketing team to draft the marketing plan for the next fiscal year. Ethan is highly skilled in conducting secondary research and, as an alumnus of his university, he continues to have complimentary access to the university's library resources. He's now realizing how important data analysis is to firms and is glad he took a marketing research course. Ethan is utilizing the library resources to uncover information about a variety of external factors that could provide opportunities or threats and is exploring such factors as competitive, economic, political, legal, regulatory, technological, and sociocultural. Which section of the marketing plan would be most appropriate for the information that Ethan is obtaining through secondary market research?
A)Environmental analysis
B)Executive summary
C)Marketing objectives
D)SWOT analysis

Question

Quizplus · Accepted Answer

Ethan is conducting an external analysis of factors that could impact the company's marketing plan, which would be included in the environmental analysis section of the marketing plan. The environmental analysis examines factors outside of the company's control that could impact its operations or profitability. Factors such as competitive, economic, political, legal, regulatory, technological, and sociocultural would all fall under this category.

Ethan Hathaway Recently Graduated from an East Coast University and Has