By Keeping Up with Technological Trends a Company May Be

question 28

True/False

By keeping up with technological trends a company may be able to identify and incorporate cutting edge technology developed in other industries into its own products.

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Definitions:

Market Scanning

The process of continuously analyzing the external environment to identify opportunities, threats, trends, and strategic uncertainties.

Marketing Strategy

A comprehensive plan that outlines an organization's overall marketing efforts and how it will achieve its marketing objectives.

Planning Challenges

Obstacles and difficulties that arise in the process of creating effective strategies and plans, often due to uncertainty, complexity, or resource constraints.

Opportunities

Circumstances that present potential for growth, improvement, or advantage in a personal or business context.