Report on Marketing Audit Analysis Tools for Company X

1828 Words8 Pages
Title: Report on the most appropriate marketing audit analysis tools for the X Group To: Marketing Director, X Group

From: Marketing Consultant

Date: January 4th, 2005

Purpose of report

The X Group are undertaking a complex marketing audit and require assistance in evaluating the most appropriate analysis tools.

This report will endeavour to fulfil the X Group’s requirements by critically explaining the components of micro and macro analysis. This report will also explain the role of marketing information and research in conducting and analysing the market, and finally critically assess the usefulness of four analysis tools appropriate to X GROUP’s company
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In order for a company’s marketing plan to be implemented effectively, and a marketing orientated and customer focused approach to decision making taken, it should first find out as much information as possible about its customers and markets, identifying their needs, wants, characteristics, buying power and willingness to buy. Without this, decisions are relatively uninformed, posing a serious risk to the business.

Marketing research can determine things such as economic growth prospects in the external environment, pricing and cost structures of competitors, customer responses to new services, channels of distribution for the marketing mix and sales trends by region to name a few. Marketing research is vital to not only finding out about the environment and the customers, but also the necessary changes that might be required to the marketing mix following analysis of the research information.

A company may also want to make decisions about future plans such as international growth, new market opportunities and new technologies, and these decisions need to be well informed, hence the need for accurate and targeted information.

7. Appropriate Analysis Tools

The following analysis tools are utilised during a marketing audit:

i) PESTEL Analysis

The PESTEL analysis tool is a valuable framework for identifying opportunities and threats in the macro (external) environment. It works through the various components of the

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