Marketing Analysis Marketing Audit Essay - 1049 Words

First of all I would like to thank you for providing this tremendous opportunity of expressing my views on Marketing Audit. As we all know, Marketing Audit is a systematic, critical and appraisal of the total marketing operation of the objectives and policies and the assumptions which underlie them as well as the methods, procedures, personnel and organization employed to implement the policies and achieve the objectives. It evaluates mainly three key areas i.e. external marketing environment, internal marketing environment, evaluation of current marketing strategy. The marketing audit is a fundamental part of the marketing planning process. It is conducted not only at the beginning of the process, but also at a series of points during the implementation of the plan. The marketing audit considers both internal and external influences on marketing planning as well as a review of the plan itself. (http://kalyan-city.blogspot.in/2013/01/what-is-marketing -audit-defination-and.html) As a market oriented organisation, we must start by asking-what is the nature of our customer? Such as: †¢ Their needs and how we satisfy them. †¢ Their buyer decision process and consumer behaviour. †¢ Their perception of our brand, and loyalty to it. †¢ The nature of segmentation, targeting and positioning in our markets. †¢ What customers ‘value’ and how we provide that ‘value’? What is the nature of competition in our target markets? †¢ Our competitors’ level of profitability †¢ TheirShow MoreRelatedMarketing Analysis : Marketing Audit1229 Words   |  5 Pages1.1 Marketing Audit Marketing audit can be defined as a study, inspection, review and/or evaluation of marketing activities of any company. Basically, it estimates the marketing environment of the company, aims, strategies, and policies of the company. After evaluation of marketing plans and strategies, it has to identify the mistakes, weaknesses, insufficiencies, complications and other issues to be encountered in firm’s marketing purposes. The final outcome of the marketing audit recommends measuresRead MoreReport on Marketing Audit Analysis Tools for Company X1828 Words   |  8 Pagesappropriate marketing audit analysis tools for the X Group To: Marketing Director, X Group From: Marketing Consultant Date: January 4th, 2005 Purpose of report The X Group are undertaking a complex marketing audit and require assistance in evaluating the most appropriate analysis tools. This report will endeavour to fulfil the X Group’s requirements by critically explaining the components of micro and macro analysis. This reportRead MoreMarketing Audit Approach - Ikea1571 Words   |  7 PagesMarketing Audit Approach - IKEA Marketing Audit Overview â€Å"What is a marketing audit? Quite simply, it is a detailed analysis of the elements that constitute or influence a company’s efforts to profitably market its products- today and in future when both market and products may undergo radical change† ( John, Alexander, Theodore, 1969). The marketing audit helps to understand the fundamentals of a company’s marketing planning process. Auditing is not only conducted not only at the planningRead MoreA Marketing Plan For A New Marketing Strategy966 Words   |  4 Pagesorganization’s policy administration. For a triumphant marketing plan, understanding the government legal approaches allows for efficient operation and inter-relationship with other organization. Similarly, internal legal policies allow the company to uphold its operation in a set manner. 4.0: Marketing Audit A market audit process is a tool that can never be neglected despite the situation. However, very few companies carry out comprehensive audit understanding of their various operations. As a resultRead MoreMarketing Audit933 Words   |  4 PagesA marketing audit is not unlike a financial audit in that it helps the organisations to examine progress or lack of process towards the goals. A marketing audit is an evaluation of the marketing within an organisation to see if their strategies in place are effective within the marketing environment. There is an â€Å"internal and external† form of audits. The internal audit assists with considering the effectiveness of the marketing strategies in place at the time of the audit. The â€Å"external† auditRead MoreMarketing Audit977 Words   |  4 PagesExplanation of what a marketing audit is: The purpose of a marketing audit is to review and appraise existing marketing activities and to look at the way the marketing is planned and managed, giving the opportunity for a systematic examination of each element of the organisations current marketing activity and achievements, and to objectively evaluate the effectiveness of the organisations investment in marketing. The marketing audit assists in the evaluation of the whole marketing activity, and providesRead MoreMarketing Audits and Its Importance to an Organisation1302 Words   |  6 PagesMarketing Audits and its importance to an organisation As of I am starting to write this essay, an historic and astonishing incident happened in US—Standard Poors first time downgraded American Federal Bonds form AAA to AA+. Look at the messed up world economic picture--US is suffering from recession without any better signs, Europe is struggling with debt crisis, only growth engine China is also slowingRead MoreMarketing Plan Structure Acc to Jobber1628 Words   |  7 PagesMarketing Plan Contents Introduction: Using the Marketing Planning Framework 1. Terms of Reference 2. Executive Summary 3. Business Mission 4. External Marketing Audit Macroenvironment The Market Competition 5. Internal Marketing Audit Operating Results Strategic Issues Analysis Marketing Mix Effectiveness Marketing Structures and Systems 6. SWOT Analysis 7. Marketing Objectives Strategic Thrust Strategic Objectives 8. Core Strategy Read MoreMarketing Plan827 Words   |  4 Pagesï » ¿Marketing Business Environment Marketing Planning: An Overview of Marketing 6 main questions to ask in order to create your marketing plan: 1. Where are we now? (Business Mission, Marketing audit, SWOT analysis) 2. How did we get here? (Business Mission, Marketing audit, SWOT analysis) 3. Where are we heading? (Marketing audit, SWOT Analysis) 4. Where would we like to be? (Marketing objectives) 5. How do we get there? (Core Strategy, Marketing mix decisions, Organization, ImplementationRead Morebusiness1116 Words   |  5 Pagesï » ¿ BTEC Centre Guangdong AIB Polytechnic College Unit Unit 19: Marketing Planning Class 2011 HND Marketing Assignment A1: Compiling Marketing Audits and Examining Barriers in Marketing Date issued Apr 28, 2014 Date deadline Apr 19, 2014 Tutor BAO Yinglei IV QIU Ling Declaration: I am aware that cheating and plagiarism will not be tolerated in any assignment and that this work complies with the requirements. Student’s Signatureï ¼Å¡ (In Pinyin)