Marketing Analysis Marketing Audit - 1229 Words

1.1 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 measures and/or suggestions to overcome these defined limitations of the current marketing plans. It defines the new marketing opportunities for the company’s growth. Generally, marketing audit tries to improve the performance of company’s marketing activity. In other words, Marketing Audit is a broad, organized, self-governing and systematic examination process for firm’s marketing activities. Marketing audit is advantageous to determine the success of the company. Marketing inspects the functionalities of the company’s marketing department by comparing the plans with its actual performance of current marketing activities. Specifically, it figure outs the strengths and weaknesses of a company s product being marketed. It provides appropriate recommendations to reduce product’s weaknesses and guides towards appropriate marketing strategies and plans to change firm’s current marketing environment. Company can implement the changes to control its own marketing expenses. According toShow MoreRelatedMarketing Analysis : Marketing Audit Essay1049 Words   |  5 Pagesviews 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 poli cies 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 fundamentalRead 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? 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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)