Marketing audit can be described as comprehensive, systematic and independent approach that can help the managers towards the achievement of organizational objectives. A study on marketing audit would provide some in-depth insights to the perception of the management towards the probable benefits of a marketing audit. Marketing audit allows the managers to find out the problem and makes the marketers understand as to what exactly the organization is trying to achieve. Overall marketing audit makes strong contribution to increase the overall ROI of company. The present study looks to analyze the various components of an ideal marketing audit system which includes external and internal analysis, contribution of the marketing audit towards the understanding of the business environments; the study also shows practical implications of marketing audit system to understand as to how an organization can adapt to the changing business environment and improve overall marketing activities to achieve the desired marketing objectives. Various theoretical and analytic models relevant to the overall marketing audit system of organization such as the PEST analysis, SWOT analysis, Marketing mix strategy has been used to ensure that the study is in depth and analytical nature (Henry, 2008, p. 89). Critical review of key literature Marketing Audit: An introduction Marketing audit is usually an accepted method of evaluation and have treated mainly as a control mechanism of the marketing activities of a company. Kotler defined marketing audit as a self administered method to indentify and improve the utilization of marketing resources. Marketing audit makes a marketer understand a product or a service a lot better; Marketing audit helps a marketer to understand the objective of the overall marketing program; It helps a marketer to adapt to different situations; Marketing audit uncovers the hidden inefficiencies and most importantly marketing audit helps the marketers to assess the gap between the planned and actual results (Kolb, 2008, p. 92). Marketing Audit Process Marketing audit usually is a three step process as shown in the figure Objective setting and scope The first step usually includes a meeting between the officers and an auditor. The auditor selected is usually an external and independent company to get a more in depth and yet independent view. If the officers are company management team is convinced about the proposed benefits of the marketing audit then the audit team has to get into an agreement regarding the objectives, coverage, depth, data sources and time period of the audit (Brown, 2009, p. 209). Gathering the Data and Analysis This happens to be one of the most important phases. Majority of the time of the auditor is spent on the collection of data. It may look like that auditor is single person, but actually marketing audit as mentioned before is conducted by a team or an organization. Once the data is collected the data are to be analyzed by the marketing aud
Setting/Developing Marketing Capability Table of Contents Introduction 4 Critical review of key literature 5 Marketing Audit: An introduction 5 Marketing Audit Process 5 Objective setting and scope 5 Gathering the Data and Analysis 6 Project Report Preparation 6 Marketing Environment analysis 6 7 External Environmental Factors 7 Internal Environmental Factors 8 Electronic Marketing and Data mining 8 Corporate Social Responsibility 9 Illustrative examples 10 Marketing Audit of Parks department 10 Macro Environment Analysis 10 Micro Environment analysis through SWOT 11 Marketing objectives and Targets 11 Objectives 11 Targets 12 Recommended Marketing strategy based on marketing mix 12 Product/S…
Indeed, for marketing to be truly successful it is generally thought that all parts of the business need to have a marketing orientation. The marketing department is responsible for a number of specific marketing activities, but it also often has an important co-ordinating role between other functional areas in order to facilitate a holistic marketing approach (Schaefer, 2010, p.
In this way, the need is of having an effective marketing function. This requires a strategic approach from organizations to devise a strong and sustaining marketing function. This study is going to evaluate of how organizations work on structuring marketing function.
Consumers drive business strategies and successful enterprises. A well-researched marketing approach can help businesses in launching new products and expanding into new market regions successfully through a deeper and improved understanding of the existing operating environment.
Electronic commerce is often thought simply to refer to buying and selling using the Internet; people immediately think of consumer retail purchases from companies. But e-commerce involved much more than electronically mediated financial transactions between organization and customers.
From this research, it is clear that business model innovation demands the systematic building up of organizational capabilities. One of the golden rules of management is to change proactively when the times are good, not after the crisis has erupted. An innovation-oriented culture is all about creating the right attitude among people.
At last there is suggestion for the British manager.
National culture is the values and attitudes shared by individuals from a specific country that shape their behaviour and their beliefs about what is important. For a manager, national culture and organisational culture both are important.
Though presenter attempted to build a rapport with the audience by mentioning words like “Good Morning and Ladies & Gentlemen” however, there is general lack of building effect rapport with the audience. Further, since this is going to be a
number of specific marketing activities, but it also often has an important co-ordinating role between other functional areas in order to facilitate a holistic marketing approach (Schaefer, 2010, p. 8).”
This engagement relates to the period during the second half of the last
In order to identify the challenging and opportunistic factors, the researcher has reviewed various empirical literatures by acclaimed scholars. By doing so, the researcher of this paper was able to recognize consistencies between the ideas provided within the literatures and the circumstantial implications.
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