Table of Contents
Task 1: Compile marketing audits
Appraise the processes and technique used for auditing the marketing environment
Apply organizational and environmental auditing techniques in Kinh Do
4 Task 2: The potential barriers to Kinh Do’s marketing planning and some solution to overcome these barriers
Identify the main barriers to marketing planning in the company
Suggest some solutions for Kinh Do to overcome these barriers to marketing planning:
Kinh Do was established in 1993 and has gone through 17 years of formation and development. Up to now, Kinh Do has become a system of corporations in the fields of foodstuff including: cake, candy, beverage, ice-cream, and products from milk. At the moment, Kinh Do is one leading foodstuff group in Vietnam. To maintain and consolidate the current position, Kinh Do should have a good marketing plan. Being hired as a marketing consultant, I will conduct an audit of the marketing program in Kinh Do. This report will help Kinh Do appraise the processes and technique used for auditing the marketing environment and how Kinh Do can apply these in their situation. Moreover, the main barriers to the marketing planning and how Kinh Do can overcome them are also mentioned in this report.
Task 1: Compile marketing audits
1. Appraise the processes and technique used for auditing the marketing environment The marketing audit is an examination of a company’s marketing environment and activities. It is a part of marketing planning process. Carrying out the marketing audit provides the opportunity to review and appraise the whole marketing activity of the business, enabling the manager to assess past and present performance as well as to provide the basis for evaluating possible future courses of action. Because the business environment is continuously changing, the marketing audit should be used as a reference tool, with constant updates reflecting changes in the external and internal environment. a. External Audit
It takes into consideration the overall Macro environment such as political, economics, social and cultural, technology, environmental and legal factors that may or may not affect Kinh Do’s activities. It also encompasses Micro environment which show what and who are Kinh Do competing against and how could this threaten Kinh Do’s current market share and position. Macro environment audit: is a review of all the factors that Kinh Do is unable to control. Kinh Do should conduct this analysis to stay abreast of the issue in the current business environment. A common tool for conducting a macro environment audit is the PEST framework, which include factors form the political, economic, social, technological, environmental and legal aspects in the business environment. Political factor – changes in laws and regulations might effect marketing strategy and tactics and the changes in the areas of pollution control, equal employment opportunity, product safety, advertising, price control, that affects the marketing planning of Kinh Do. Economics – developments in income, prices, savings and credit will affect Kinh Do. Social and cultural – public’s attitude towards Kinh Do and toward the products of Kinh Do and changes in customers’ lifestyle and values might affect Kinh Do. Technological – changes occurring in product and process technology and Kinh Do’s position in these technologies. Micro environment audit: This is associated with the business environment and most of the business operations and competitiveness of place in this environment. Micro environment consists of the factors in the industry and other factors external to the enterprise, determine the nature and extent of competition in the business industry. Porter’s five forces is a technique which helps Kinh Do understand their micro environment. This is useful because it help Kinh...
References: (2004). Part B: Marketing Planning. In T. B. authors, Mandatory Unit 19 Marketing Planning Supporting Foundation Degrees Course Book. London: BBP Professional Education.
Kinh Do’s homepage, http://www.kinhdofood.vn/Default.html
Marketing audit, from http://www.cim.co.uk/marketingplanningtool/tech/tech5.asp
Porter’s Five Forces, from http://tutor2u.net/business/strategy/porter_five_forces.htm
Value chain, from http://www.quickmba.com/strategy/value-chain/
Kinh Do – Nha quan ly nhan hieu noi dia co tam co quoc te, from http://www.lantabrand.com/cat3news109.html
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