Conduct a marketing audit
Unit Code: BSBMKG515A
Nareumon Yingpunyachok
BIC02393
A marketing audit is a function, in the context of management operations, by which the assessment of the implementation of strategic marketing at tactical level is attempted. The application of marketing audit results in testing the compatibility and comparability of the objectives, sought to be implemented within the marketing strategy, with measurable targets which are achieved in reality. This can be implemented through the presentation and analysis of results in different areas of business operation which affect the application of marketing throughout the company. Thus, a marketing audit is implemented in the following areas:
a) Marketing
…show more content…
Potential or existing customers can consider product prices high, low or fair, thereby regulating the active demand for the products of the company.
Also, it is necessary through the marketing audit to propose and develop a system for evaluation of the distinctive properties of different products of the company, which play a decisive role in whether these products will be commercially successful.
Ultimately, the main objective of the marketing audit should be to develop ways and methods-proposals aimed at improving the skills and abilities of the personnel in the sales department of the company, in order to promote the products and achieve the sales targets. This may mean the provision of additional incentives and training, to the existing sales-force, and the recruitment of new salespeople.
The above objectives of the marketing audit are not restrictive, since the implementation of the initial objectives may differentiate when unforeseen problems arise, and it is necessary to solve them.
Finally, we can say that the marketing audit, apart from focusing on a particular part of business operations, should analyze and assess the effectiveness of the overall marketing function. From past experience, it has been observed that problems arise in other areas of focus than the ones that the marketing audit procedure seeks to evaluate.
Moreover, as a general rule of thumb, on top of identifying problem areas, the aim of marketing audit should be to propose solutions and
|D1 |Evaluate the effectiveness of the use of techniques in marketing products in one organisation. |
According to authors Ferrell and Hartline, the first step in reviewing a company’s marketing strategy involves “critical evaluation of the firm’s internal environment with respect to its objectives, performance, allocation of resources, structural characteristics, and political climate” (Ferrell & Hartline, 2011).
In this Assessment Task, you are required to prepare for a marketing audit by developing a plan
Marketing is all about creating a really solid decision, which will lead to more money. In this paper I will give some history of my organization, and explain how each element of marketing affects the organization. In addition I will cover the industry in which the organization resides in.
Marketing plays the most important role for the success of a business. In this chapter, the business’ marketing objectives are laid out together with the plans or actions that will be needed to achieve these objectives. Furthermore, this chapter includes the profile of the respondents which aided the researchers to create this part of the feasibility study.
Effective planning is essential for any marketing activity to ensure that an organisation realises its marketing objectives. Without planning, marketing activity can be inappropriate and waste resources and opportunities. This unit introduces learners to different ways of auditing, to looking at how internal and external factors
The audit will discuss the current objectives and future strategies of the brand, current promotional, product and price
In this assessment task you are required to review and evaluate marketing opportunities for an organisation and develop marketing activities that reflect the strategic directions of the organisation.
An important part of the planning process is observing at the present position of the business and trying to choose how factors outside of the business might affect the business. Business do a SWOT examination as a way of determining which marketing strategy to use. The business does a review on the interior and exterior nature of the business looking at the current and upcoming condition. An audit is a review of all the business’ doings.
Assess the value to small businesses of carrying out marketing audits. Illustrate your arguments with reference to an existing small business of your choice
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.
For my marketing audit I have chosen NEXT PLC, I worked for this company a few years ago so I sense it necessary to use my work for educational purposes. In this marketing audit I will give an overview of the company alongside its marketing goals and objectives. In addition I will deliver material about the company’s strengths and weaknesses. Additionally, I will describe the service, communication plan and outline marketing activities. Concluding with the benefits to the organisation that results from the implementation of the marketing activity gained in this audit.
The tutor will not take part in disputes between group members except to make a final judgement about the allocation of marks if not agreed. No proof means that the tutor will award equal marks to all group members.
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.
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.