What is a marketing audit? A marketing audit is a detailed analysis of the elements that constitute or influence a company’s efforts to profitably market its products- today and in future when both market and products may undergo radical change (John, Alexander, & Theodore, 1969). The marketing audit helps to understand the fundamentals of a company’s marketing planning process. Auditing is not only conducted not only at the planning stage and also conducted during various stages until the implementation of the marketing plan..
The selected organization for the marketing audit is Starbucks. The audit will review the marketing process of Starbucks and will provide a report at the end of the course.
Marketing Audit Approach
This document aims to provide an approach to the marketing audit process and will also detail out the steps that need to be performed to accomplish the same.
The final project document will have an executive summary, which provides a summary of the marketing audit purpose, key findings, major highlights, conclusions and recommendations. This is a high level summary and can be presented to the company’s top management. It is imperative that the author to ensure the summary has no conflicting information with the detail audit.
The first step of marketing audit is to understand the company’s vision, products and marketing strategy. In respect to Starbucks, the information can be obtained from student info website provided by Starbucks, and the company Web Site.
Marketing Environment Analysis
The next part of Audit process is to understand the business environmental aspects of the company. As part of the marketing audit project, detailed information will be analyzed and provide information on the following key environmental aspects:
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