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Marketing Audit

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Published in Business Analysis/Tools

 

Marketing Audit is a thorough analysis to account for the strengths and weaknesses of the business resources available for marketing over any period of time. It providing clear guidelines to the actions a business might undertake to improve its position identifying and utilising available marketing resources and will show if the route chosen was the most effective and profitable. The turmoil in marketing is matched by turmoil in all markets demands that businesses monitor the effectiveness of their activities and ensure that they are fully exploiting their marketing resources.

This audit will aid in identifying and realising underutilised marketing resources which will lead to practical and profitable action. Many businesses do not know what resources they own or their quality and are constrained from introducing simple changes that would release many of the currently underexploited resources the business possesses. Marketing Audit will point quickly to recommendations of a series of basic actions which can lead to impressive achievements. Instead of theories, elegant plans, sophisticated strategies and esoteric philosophies, it will produces down-to-earth practical suggestions which could, for most business, be implemented at once at no cost or low cost. The Audit would any of the following applicable areas:

The Audit would any of the following applicable areas:

  • Marketing strategy and planning
  • Product or service range
  • Company performance
  • Export marketing
  • Marketing information
  • Market size and structure
  • Future market
  • Salesforce and its management
  • Customer care
  • Support staff's role in marketing
  • Cross-selling and internal marketing
  • Agency system
  • Distributive system
  • Non-personal promotion: methods and media
  • Buying process
  • Analysing lost business
  • Introducing new products or services
  • User industries
  • Key customer marketing
  • Competitive intelligence
  • Physical distribution and packaging
  • Industry contacts
  • Pricing
  • Images and perceptions
  • Quality in marketing
  • Non-differentiated products and commodities
  • Service businesses
  • Product/service financial information


 

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