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Undertaking a Market Audit
Pages 8 (2008 words)
Marketing Audit is a critical, systematic and impartial review and performance appraisal of the entire marketing operation. MA would be conducted to understand the internal functioning of the company. The chosen fragrance company is Burberry which is an UK based luxury fashion House. …
The audit includes careful analysis of the company’s strategic business units as well as the internal procedures. MA is prognostic in nature and provides recommendations for improving the performance, process and increasing the organizational outcome of the company. It would provide formal mechanisms of the systematic examination of internal and external marketing activities of the organization. It requires the usage of various tools which includes control charts that indicate the existing marketing situation and the crisis. A MA is useful to measure the various marketing crisis and also discover the various issues which lead to the increase in the sales of the company (Kling, 2000).The objective of the study would be to understand the concept of marketing audit and its effect on business activities. The author of the study would try to understand the utility and the method of conducting marketing audit in of the UK fragrance market.
According to Kotler (1977 cited in Kling, 2000), MA is a systematic examination of an organization’s marketing objectives, strategies and performance. The prime objective of the company is to understand the techniques that help in utilizing the resources of the company effectively and generate recommendations, which help in utilizing the existing process. ...
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