Final answer:
A competitive review is conducted during the Analysis of micro-environment step of a Marketing Environmental Scan, where a company examines its immediate competitive landscape.
Step-by-step explanation:
A competitive review would be conducted during the Analysis of micro-environment step of a Marketing Environmental Scan. This step is critical for understanding the competitive forces at play in the immediate environment of the business. It involves studying competitors to assess their strengths, weaknesses, strategies, market positioning, and product offerings. This allows a company to identify competitive advantages and areas for improvement.
Although SWOT analysis is an important tool for summarizing the internal strengths and weaknesses and the external opportunities and threats, the competitive review itself is a distinct part of the micro-environment analysis. Market segmentation, while helpful in identifying specific target audiences, doesn't directly involve assessing competitive dynamics. Meanwhile, the analysis of macro-environment focuses on larger societal forces like economic, political, and technological trends, not on individual competitor analysis.