Marketing Audit

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UNDERSTANDING & APPLICATIO N OF MARKETING AUDIT

Th e R e port Pr epa re d b y, CM /20 05/ 183 L. H. S. R a nat hun ga

Su bj ec t: St rat eg ic Ma rk et in g Ma na ge men t (B MKT 3 2054 ) Le ct ur er: Mr . Aj it h P. Med is nd Se me ste r: 3rd Ye a r 2nd Se me ste r, 2 009

Department of Marketing Management University of Kelaniya

ACKNOW LEDG EMENT

This assignment was prepared for the purpose of getting the understanding about marketing audit and its important part is concerned. I’m really grateful to our Strategic Marketing Management Lecture Mr. Ajith P. Medis for giving advice for this assignment. As well as I thank to all those who helped in the preparation of this assignment.

Thank you for all.

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CONTENT

Acknowledgment Introduction Introduction to Marketing Audit Components of Marketing Audit Marketing Environmental Audit Marketing Strategy Audit Marketing Organization Audit Marketing System Audit Marketing Productivity Audit Marketing Functions Audit Tools and Techniques of Marketing Audit SWOT Analyses PEST Analyses Five Forces Analyses The Marketing Audit Process Where to focus Company Marketing Efforts References 02 03 06 06 07 08 08 09 09 10 10 14 17 20 21 23

The Marketing Audit

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INTROD UCTION

This assignment is focused on to understand the meaning of marketing audit and some relating parts. In this assignment has been included components of marketing audit, tools and techniques that used by marketing audit, marketing audit process and the part that focus on marketing effort for where. The first part is introduction to marketing audit, here discuss about the marketing audit and its characteristics and benefits and advantages that can be obtained by performing a marketing audit. The next part is components of marketing audit, there are six components under marketing audit such as marketing environmental audit, marketing system audit, marketing strategy audit, marketing organization audit, marketing productivity audit and marketing function audit, and all the components are discussed in this part. The third part is tools and techniques that can be used by marketing auditor to evaluate the marketing performance of an organization. Mainly there are three tools such as SWOT analysis, PEST analysis and five forces analysis. These three tools are explained briefly under that part. The next part is the marketing audit process. It consists of main two parts and it describe very briefly in this part. The final part in this report is where to focus company marketing efforts. By doing a marketing audit, company can easily identify for what area or areas the company should focus on.

The Marketing Audit

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INTROD UCTION TO MARKETING AUDIT

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. Here the marketing audit is used some tools to evaluate marketing performance of an organization, for example SWOT analysis for the internal environment, as well as the external environment. Other examples include PEST and Five Forces Analyses, which focus only on the external environment. The marketing audit can be viewed as an “umbrella” that covers efforts to assess customer needs and wants and to understand community patterns. The external environment is examined on both micro and macro levels, including scanning for developing trends. In addition to this analysis of the external environment, the marketing audit also analyzes the internal environment. The marketing audit has been defined by Phillip Kotler as a comprehensive, systematic, independent and periodic examination activities and resources in order to determine problem areas and opportunities and to recommend a plan of...
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