The Marketing Audit - Download PPT — Presentation Transcript • 1. The Marketing Audit and the Marketing Plan Systematically takes stock of an organisation’s marketing health and plans the direction and scope of marketing activities • 2. Definition “ the means by which a company can understand how it relates to the environment in which it operates... ..the means by which a company can identify it’s own strengths and weaknesses as they relate to opportunities and threats” The marketing plan serves as a roadmap that guides the context and scope of marketing activities McDonald 1989 • 3. Marketing audit issues Internal audit (Portfolio analysis, PLC) Macro-environment (PEST) Task environment (Competition, channels, customers) Markets Strategic issues (segmentation, positioning, competitive advantage) Marketing mix (7Ps) Marketing organisational structure and organisation • 4. Internal audit :Coca-Cola strategic objectives accelerate carbonated soft drinks growth, led by Coca-Cola 2. broaden the family of products, wherever appropriate e.g. bottled water, tea, coffee, juices, energy drinks 3. grow system profitability & capability together with the bottlers 4. creatively serve customers (e.g. retailers) to build their businesses 5. invest intelligently in market growth 6. drive efficiency & cost effectiveness by using technology and large scale production to control costs 7. enabling our people to achieve extraordinary results everyday. • 5. Internal audit: how to plot the portfolio matrix
• 6. The BCG Matrix Assess the general level of growth in the product’s market Measure the market share relative to the largest competitor in the industry Decide whether there are enough strong products to support weak ones Is the portfolio balanced between existing strength and emerging opportunity? • 7. Coca-Cola: product/market summary
• 8. Bottled water: size and segmentation. Look at each Market in turn and find growth rate • 9. Bottled water: brand shares Identify brand leader market shares The CC brand Malvern has less than 1% market share. Express in terms of Brand leader’s share. • 10. Portfolio analysis for CCGB Malvern Water 8.5% market growth 0.06 RMS • 11. PLC questions Where is each product in it’s lifecycle? Which products are profitable? Should new products be added to the portfolio? Which products are worth supporting? • 12. Macro-environment: PEST
• 13. Purpose of PEST analysis What environmental factors are affecting the organisation? Which of these are most important at the present time? Which of these are most important in the future? Forms the Opportunities (area of buyer need) and Threats (unfavourable trend requiring defensive action) of the SWOT analysis • 14. Political/legal factors (including Global factors) Monopolies/competition legislation Environmental protection laws (eg “environmental protection legislation favours hybrid technologies”) Taxation policy Foreign trade regulations Employment law Government stability Important political events Critical global markets Newly industrialised countries • 15. Economic factors Personal savings rates Interest rates Money supply Inflation Unemployment Disposable income Energy: availability and cost • 16. Sociocultural factors (including Demographic factors) Population demographics Income distribution Social mobility Lifestyle changes Attitudes to work and leisure Shifts in preferences regarding product and service characteristics Levels of education Concerns about the environment Eg increasing concentration of worlds population in cities • 17. Technological factors Spending on research Focus of technological effort New discoveries/developments/product innovations Rates of obsolescence • 18. Task environment: Competitor analysis Identify and analyse competitors very carefully Potential competitors/emerging competition Emerging needs Competitor product range Competitor marketing activities • 19. Example competitors for CCGB
• 20. Potential Key...