MKTG716MarketingAuditWorksheetSummer2023v2
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University of South Carolina, Aiken *
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A716
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Marketing
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Jan 9, 2024
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Overview of the Marketing Audit Project
For this project (and all deliverables in the class) it is expected that students will submit their best
work. Each assignment will only be graded once (there are no “do-overs”). While Dr. Steen will
happily answer specific questions you have, entire assignments will not be “looked over” before
submission since this essentially pre-grading the assignment.
This course-long project will have students conduct a marketing audit for an
organization/product/brand of their choice. The marketing audit will consist of a written report
based on the template provided in the marketing audit worksheet below. There is a sample
marketing audit posted on Blackboard.
IMPORTANT: Please choose an organization/business that would benefit from the marketing audit
and suggestions for improvement to their marketing plans. Due to the timeframe of the class, small
(even micro) businesses work well. Many students choose to conduct the audit on a business owned
by a close friend or family member. The company/product/brand needs to already exist. It is
difficult (if not impossible) to conduct a marketing audit on a fictional (or even future)
company/product/brand.
There are three different assignments associated with the marketing audit:
1.
Marketing Audit Topic Assignment:
Each student will submit a paper describing their
proposed topic for the marketing audit. This assignment should include the company
background section (see sample Marketing audit) and address how the student will obtain
access to the information needed to write the marketing audit.
2.
Marketing Audit Situational Analysis & SWOT Assignment:
Each student will submit
the Situation Analysis and SWOT Analysis (including the SWOT Matrix) section of their
marketing audit. See the sample marketing audit and the outline posted below.
NOTE:
The maximum length for this section of the audit (not including cover page, company
background, etc. is five single spaced pages).
3.
Final Marketing Audit:
Each student will submit a complete marketing audit based on
the outline below (also see the Sample Marketing Audit on Blackboard).
This audit
should include an executive summary and table of contents. NOTE:
The
maximum
length
of the final marketing audit is ten single spaced pages (this does not include the title page,
table of contents, or reference page, if needed). Keep in mind that in most business settings,
information that is both thorough yet concise/succinct is expected.
All written assignments should be neatly typed, well organized, visually appealing, legible, and free
of all errors in grammar and spelling.
Each of the three assignments are to be submitted on Blackboard by 11:59PM Eastern Standard
Time on the respective due dates. Assignments submitted late will receive a 10% point penalty per
day.
1
Marketing Audit Worksheet
This worksheet will assist you in writing a formal marketing audit. Worksheets are a useful planning
tool because they help to ensure that important information is not omitted from the marketing audit.
Answering the questions on these worksheets will enable you to:
1.
Organize and structure the data and information you collect during the situation analysis.
2.
Use this information to better understand a firm's strengths and weaknesses, and to
recognize the opportunities and threats that exist in the marketing environment.
3.
Analyze current marketing strategies/tactics being used.
4.
Make recommendations that will enhance marketing for the organization/product/brand.
In completing the situation analysis section, be sure to be as comprehensive as possible. However,
there may be sections that do not apply to the chosen organization/product/brand.
The viability of your SWOT analysis depends on how well you have identified all of the relevant
environmental issues. Likewise, as you complete the SWOT analysis, you should be honest about
the firm's characteristics. Do not depend on strengths that the firm really does not possess. Honesty
is also important for your listing of weaknesses. Remember to label (Figure 1: SWOT Matrix) and
refer to your SWOT matrix within your paper (e.g. As shown in Figure 1,
....
).
I.
Situation Analysis
(NOTE: The situational analysis section of the marketing audit is
basically a report on the current state of the external and internal environment.)
A. The External Environment (see sample audit)
NOTE: Be sure to write this section from an EXTERNAL point of view. These
factors apply to all firms in an industry.
Political, legal, and ethical
Identify any political activities affecting the industry with respect to changes
in elected officials (domestic or foreign), potential regulations favored by
elected officials, industry (lobbying) groups or political action committees,
and consumer advocacy groups.
What are the current and potential hot button political or policy issues at the
national, regional, or local level that may affect the industry?
Identify any changes in international, federal, state, or local laws and
regulations affecting the industry’s marketing activities with respect to recent
court decisions, recent rulings of federal, state, or local government entities,
recent decisions by regulatory and self-regulatory agencies, and changes in
global trade agreements or trade law.
Identify the ethical and social responsibility issues that the industry faces.
How are these issues expected to change in the future?
2
Sociocultural
With respect to the firm’s target customers, identify changes in society's
demographics, values, and lifestyles that affect the industry.
Technological
How have recent technological advances affected the firm's customers with
respect to needs/wants/preferences, access to information, the timing and
location of purchase decisions, the ability to compare competing product
offerings, or the ability to conduct transactions more effectively and
efficiently?
Have customers embraced or rejected these technological advances? How is
this issue related to customers’ concerns over privacy and security?
How have recent technological advances affected the industry with respect to
manufacturing, process efficiency, distribution, supply chain effectiveness,
promotion, cost-reduction, or customer relationship management?
What future technologies offer important opportunities for the firm? Identify
any future technologies that may threaten the firm's viability or its marketing
efforts.
Economic
Identify the general economic conditions of the country, region, state, or
local area where the firm’s target customers are located. How are these
economic conditions related to customers’ ability to purchase the firm’s
products?
Describe the economics of the industry within which the firm operates.
These issues might include the cost of raw materials, patents,
merger/acquisition trends, sales trends, supply/demand issues, marketing
challenges, and industry growth/decline.
B. The Competitive Environment (see sample plan)
Threat of New Entrants
How strong are entry barriers based on capital requirements or other factors?
Rivalry among Existing Firms
Identify the firm’s major competitors. How much direct competition is there?
How much indirect competition? How strong are the firms in both categories
with respect to size, growth, profitability, target markets, products, and
marketing capabilities (production, distribution, promotion, pricing)? What
other major strengths and weaknesses do these competitors possess?
Threat of Substitute Products
What substitutes exist for the products/services the company produces? How
much of a threat do these substitutes possess?
3
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