Marketing audit is a systematic examination of a business's marketing environment, objectives, strategies and activities with a view to identifying key strategic issues, problems areas and opportunities.
The market consists of statistical analysis of the market size, growth areas, and trends.Customer analysis includes who the customers are, what choice criteria they use, and how they rate competitive offerings and market segmentation basis. Distribution analysis covers significant movements in power bases between the manufacturer and the intermediaries, channel attractiveness studies, and identification of physical distribution methods.
Competitor analysis examines the nature of actual and potential competitors and their objectives and strategies. Profitability analysis examines industry profitability and comparative performance of competitors. Entry barrier analysis identifies the key financial and non-financial barriers that industry from competitor attack.
In the internal audit the operating results of the company from the basis of assessment through analysis of sales, market share, profit margin and costs. Strategic issues analysis examines the suitability of marketing objectives and segmentation bases in the light of changes in the marketplace.
Marketing systems are audited for effectiveness. The marketing audit should be an ongoing activity, not a desperate attempt to turn around an ailing business.
- Where is the company now?
- How did the company get here?
- Where is the company heading?
The market consists of statistical analysis of the market size, growth areas, and trends.Customer analysis includes who the customers are, what choice criteria they use, and how they rate competitive offerings and market segmentation basis. Distribution analysis covers significant movements in power bases between the manufacturer and the intermediaries, channel attractiveness studies, and identification of physical distribution methods.
Competitor analysis examines the nature of actual and potential competitors and their objectives and strategies. Profitability analysis examines industry profitability and comparative performance of competitors. Entry barrier analysis identifies the key financial and non-financial barriers that industry from competitor attack.
In the internal audit the operating results of the company from the basis of assessment through analysis of sales, market share, profit margin and costs. Strategic issues analysis examines the suitability of marketing objectives and segmentation bases in the light of changes in the marketplace.
Marketing systems are audited for effectiveness. The marketing audit should be an ongoing activity, not a desperate attempt to turn around an ailing business.
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