Marketing Audit Process

The purpose of this exercise is to provide a framework for you to analyze the marketing environments and opportunities for Company G. These analyses provide the rationale for the decisions you make regarding your marketing strategies.

Continue your report with an analysis of your market research findings for P5 in Task 5. Make conclusions on what you have found and recommend a marketing strategy.

A marketing audit is a function, in the context of management operations, by which the assessment of the implementation of strategic marketing at tactical level is attempted. The application of marketing audit results in testing the compatibility and comparability of the objectives, sought to be implemented within the marketing strategy, with measurable targets which are achieved in reality. This can be implemented through the presentation and analysis of results in different areas of business operation which affect the application of marketing throughout the company. Thus, a marketing audit is implemented in the following areas:

Sarto’s gourmet pasta process good information about the market and knows a great deal about the common attributes of our most prized and loyal customers. Sarto’s gourmet pasta will leverage this information to better understand who is served, their specific needs, and how sarto’s can better communicate with them.

Effective planning is essential for any marketing activity to ensure that an organisation realises its marketing objectives. Without planning, marketing activity can be inappropriate and waste resources and opportunities. This unit introduces learners to different ways of auditing, to looking at how internal and external factors

The marketing audit is a fundamental part of the marketing planning process. It is conducted not only at the beginning of the process, but also at a series of points during the implementation of the plan. The marketing audit considers both internal and external influences on marketing planning, as well as a review of the plan itself

Current stock prices are hovering around $30 per share (“The Walt Disney Company,”1996). Walt Disney Corporation can contribute much of its success to a large number of resources, superior experience, and its low-cost strategy. The company has developed a well -known brand name that has lead to high brand loyalty. This has given the organization the ability to adapt when product line sales decrease. At the same time, financial stability has allowed Walt Disney Corporation to extend its product line and services into home video, film, merchandise, radio broadcasting, network television, and theme parks (“The Walt Disney Company,”1996). As product line sales declined in the US, Disney has effectively expanded its operations to Japan and Europe. Overall, financial stability is one of Walt Disney’s primary internal strengths, giving the firm flexibility to submerge into a variety of different markets and expand operations globally.

My key responsibilities at Genesis Software Solutions Inc., as marketing analyst were to analyze the pros and cons of launching a new marketing campaign proposed by the company. To identify market opportunities and company’s needs I first met with the subject matter experts and understood all the requirements. With the knowledge transferred from the subject matter experts, I evaluated the scope of market penetration for the company. I also analyzed Return on investment. For this, company uses google analytics tools, to look at the market metrics and scope analysis. My internship at the company helped me to get familiarized with the usage of all these tools and how to generate and understand reports.

An important part of the planning process is observing at the present position of the business and trying to choose how factors outside of the business might affect the business. Business do a SWOT examination as a way of determining which marketing strategy to use. The business does a review on the interior and exterior nature of the business looking at the current and upcoming condition. An audit is a review of all the business’ doings.

For my marketing audit I have chosen NEXT PLC, I worked for this company a few years ago so I sense it necessary to use my work for educational purposes. In this marketing audit I will give an overview of the company alongside its marketing goals and objectives. In addition I will deliver material about the company’s strengths and weaknesses. Additionally, I will describe the service, communication plan and outline marketing activities. Concluding with the benefits to the organisation that results from the implementation of the marketing activity gained in this audit.

The tutor will not take part in disputes between group members except to make a final judgement about the allocation of marks if not agreed. No proof means that the tutor will award equal marks to all group members.

A marketing audit is a systematic approach to examining existing products and services for strengths and weaknesses. It often focuses on the Ps of marketing including product, price, place, and promotion along with other elements. The purpose of the marketing audit is to appraise the organization 's current status and provide recommendations for future action.

Environmental audit, which is the systematic collection and evaluation of information from the wider marketing environment which might affect the organisation and its strategic marketing activities, is undertaken by marketing planners (pg. 333, Marketing Planning 2007-2008, Karen Beamish, Ruth Ashford). It is undertaken on a daily basis as it is considered to be very important for reputation management and public relations. Marketers should be aware of the changes in environment that could potentially bring impact on factors like customers, competitors, suppliers and markets. Although, the organisations are unable to control the players of the environment, gathering information on what is going around the environment

The marketing strategy should be tailored around the firm's target market; if this were not the case marketing would be then less successful. Each aspect of the marketing mix would need to be formulated with the target market (consumer) in mind. For example the design of the product would need to be such that it would satisfy the consumer's needs. If it did not consumers would see no need to have it and buy a competitor's product. The price of

Marketing environment is in relation to the marketing organization, its internal environment, microenvironment, and macro-environment. In the macro- environment, we identified several forces at play – political, economic, sociocultural, technological and legal (commonly referred to as the PESTL model).