Assume that you are the marketing officer of your division/department /or branch conduct a Marketing Audit for marketing Function of selected entry by using the six Elements Frame Work.
Home Assignment date 2nd April 2012. Submission Date _ 13th May 2012.
The Report Prepared by H.M.K.Herath Student of ICBT Kandy Campus,
Subject Marketing (1) Lecturer Mr.M.Munasinghe. Semester 01-Year 2012/2013
Cardiff Metropolitan University. Master of Business Administration.
This Assignment was Prepared to study and Understand the a Marketing Audit for marketing function by using the Six Elements of Audit Frame Work. Im relay thankful to my marketing lecturer Mr. M. Munasinghe and all others for guiding me to successes this first assignment. as well as I must thank my wife and Kids.
1. Acknowledgement. 2. Introduction 3. Identify the Company Audited. 4. Introduction of the Component of The Marketing audit . 5. Marketing Environmental Audit. 6. Marketing Strategy Audit. 7. Marketing Organizational Audit. 8. Marketing System Audit. 9. Marketing Productivity Audit. 10.Marketing Functions Audit. 11.Conclusion. 12.Where the Marketing Audit Forces on the Company. 13.Executive Summary. 14.References. 15.The End.
This assignment is based on the six Elements of auditing framework for the Marketing functions of the company of.. as the Marketing officer for the year 2011.and in the of this is what are the Strength, weakness, Proportions and argent Changescompany.
The first part of this introduces the six Elements of auditing framework. And the brief discussion of basic Components and the relationship with the selected company. Further more it has been discussed the vision and mission of the company and whether they have achieve to the goals.
The next part of the assignment it has identified the six Elements such as Marketing Environmental audit.marketing Strategy Audit., Marketing Organizational Audit, Marketing System Audit, Marketing Productivity Audit, Marketing Functions Audit. And basic theory with regard the performances of selected company.
In the final part I have discussed the things that has to be re organized and well for forming objectives. And SWOT and Fest analyzing on the Companey.
To sum up It should mentioned that the task was done within a period of two weeks the depth of the task is limited.
Introduction of the Marketing audit.
Marketing audit is dynamic annalistic tool helping to evaluate the coherence between the marketing activities and marketing environment of the company. The first objective is understanding market needs and the gap of the company with those needs. The second one is to the transformation made of market understanding into the product definition and selling action .The third determination is to achieve goals with profit.
For the purpose of conducting a marketing audit there are many kinds of tools. For an example SWOT analysis for the internal environment as well as the external environment. Other example include the PEST and Five Forces Analysis, while focus solely on the external environment .
In many was the marketing audit clarifies Opportunities and Threats, and allows the marketing manner to make alternations to the companys plane if necessessary The common question way to conduct a marketing audit is consider What is the current marketing situation ?. (This is an expression of Marketing Teacher Com) So I also think it fit conduct a marketing Audit.
Introduction of the Component of the Marketing audit.
Marketing audit shod start at beginning and should explore the changes that are happening in the market place .Then the marketing audit will move to examine the companys marketing objectives and strategies, organization and system. The marketing auditor may move to examine one or two key functions in move details that important to the marketing performances of the company. The marketing audits follow the following areas as component of the marketing audit. Marketing Environmental Audit. Marketing Strategy Audit. Marketing Organizational Audit. Marketing System Audit. Marketing Productivity Audit. Marketing Functions Audit.
Marketing Environmental AuditUnder this Component as an auditor first starts the audit looking at the factors that affects operating in market please and also looking their customers and their profits. Under the marketing environment the following two environments are being considered. 1 The macro environment2
The task environment
The macro environmentThe macro environment examine six main areas the details defending on the involvements of the business and involvements required by the industry. Demographic Factors. Economical Factors. Environmental Factors. Technological Factors. Political Factors. Cultural factors.
The task environmentTask environmental factor is also very important in a marketing audit. How competitive in the marketing place?.What are the competitors doing and What might they prepares to ? .Further The task environment audit is evaluated under the market size, Growth, geographical ,Distribution, profits and major market segments. Under customers customers needs ,Buying process and product quality, service, sales force, and price competitors, Distributors, Daly suppliers, Facilitators, and Marketing firms and public. I. II. III. IV. What is the portability of the company different product , markets, territories, and channels of distributed Should the company enter ,expand, contractor , withdrawn, any business segmants. Do any marketing activities seems to have excessive costs. Can cost reducing steps be taken.
Marketing Strategy Audit.Marketing Strategy Audit is vital for marketing audit of company and this component is make sure that weather the companys marketing strategy is fit with companes marketing goals and objectives and objectives as well as cooperate goals and objectives, company mission . Has the management articulated a clear marketing strategy for achieving its marketing goals and objectives? Is the Strategy convincing? Is the company using the best basis for marketing segmentation? Does the company have clear criteria for rating the segments ? Has the company developed and effective positioning and marketing mix for each target segment?
Marketing Organization Audit.
Marketing Organization Audit mainly consider the effectiveness of the organizational activities as well as efficiency of the activities of the company. All activities and main manufacturing activities such as manufacturing, Purchasing, Financing, research and developments within the organization and the market place are being auditing under this audit.
Are there good communication and working relation between marketing and sale ? Is the product management system working effectively? Are product managers able to plan profits or only sales volume ?
Marketing System Audit. Weather the company is using appropriate marketing systems to collect the information, plan the activity, control the operation, and to maintain smooth there day to day activities, weather the systems are properly warded within the company or not. For the above purpose the auditor can use properly the following Systems.
The Marketing information System. MIS The Marketing Planning System. MpS The Marketing Control System. MCS New Product Development system.
Marketing Productivity Audit. All the companies operate to earn much profits and enhance their wealth. So under the Productivity system the auditor evaluate the company profit and revenue. To above purpose following analyzing systems are being used for their evaluation system. Profitability Analysis. Cost Effective Analysis.
Marketing Functions Audit.Marketing Functions Audit assesses the company by using marketing mix elements such as Product,Price,Place,Promotions,
1. Conclusion. 2. Where the Marketing Audit Forces on the Company. 3. Executive Summary. References.
Marketing Audit - Marketing Analysisexcel4marketing.com/Marketing-Audit.html Marketing Audit is an organizational marketing assessment approach with the purpose of analyzing the marketing approach. Marketing Audit is very useful ..
1. The End.