ENVIRONMENTAL SCAN TEMPLATE
Social/Cultural Considerations
• Who has purchasing power in the household? Male or female? Are roles changing
in the culture?
• What level of education do people attain?
• What media does your target market use the most?
• Who are the influencers/advocates of brands like yours?
• What is the fastest growing segment of the population (e.g., Hispanic? Asian?)
Political//Regulatory Considerations
• How stable is the political environment?
• What is the role of government in your industry?
• Are there specific regulations/laws affecting your industry? Marketing in general?
• What are the regulations re: data collection and privacy that affect your com-
pany/industry?
Economic Considerations
• What is the projected total population of your intended target market?
• What is the growth rate of your target market?
• What is the GDP/GNP?
• What is the income range of your target market?
• What other economic factors do you need to consider (e.g., unemployment rate,
consumer spending trends, supply chain concerns?)
Technological Considerations
• What are some trends in technology today (e.g., AI/virtual reality used by con-
sumers (Alexa)?
• What % of your target market own smartphones, smartwatches, etc.?
• How can you leverage new technology to create personal relationships with your
target market?
• How can you use traditional technology and media to your advantage (TV, print,
etc.)
Competitive Considerations
• Who are the two major competitors for your type of product in your industry?
What is your point of differentiation?
• What is your competitive advantage?
• Is there an opportunity for collaboration/partnership with other similar compa-
nies?
• How innovative are you in comparison?
• How big is the market?
Prepared by: P. G. Aaltonen April/2020
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