Which analysis focuses on external factors that may impact marketing decisions?

Environmental scanning is the analysis that emphasizes understanding external factors that can influence marketing decisions. It involves examining a wide range of external elements, including economic, social, technological, political, and competitive factors. By conducting environmental scanning, businesses can identify opportunities and threats in their market environment. This process is crucial for understanding changes that may affect customer preferences, industry trends, and overall market dynamics, allowing companies to adapt their strategies accordingly.

On the other hand, SWOT analysis, while it includes external factors in the "Opportunities" and "Threats" components, primarily serves as a strategic planning tool that assesses both internal strengths and weaknesses alongside external factors. Organizational analysis focuses on the internal workings and capabilities of the organization rather than external influences. Market segmentation is concerned with dividing a target market into smaller, manageable groups based on shared characteristics, which is more about internal strategy than assessing the external environment.