Demography plays a key role in marketing audit of the consumers, reflecting on growth distribution, age, evolution of technology and information systems as well as marketing communication and media. The external marketing environment Evaluation on the current marketing plan External environment consists of economic, political and legal factors and concentrates on clients and competition.
In carrying out the duties and responsibilities, the Director of Internal Audit will issue reports to the Vice President and General Counsel in charge of the internal audit function, Senior Vice President, and the Vice President concerned. You know that sinking feeling you get in your stomach when you pull into your local gas station, fill up your car or truck, and drive a couple blocks down the road to find the next station offering gas 20 cents cheaper?
Is there effective and sufficient use of sales promotion tools such as samples, coupons, displays and sales contests? Price How effective and efficient is distribution? Is the sales force organised along the proper principles of specialisation territory, market, product?
The marketing team within a business are fully involved in the marketing audit. Independence is essential to the effectiveness of the internal audit function. What are our current marketing strategies? The Marketing Audit Team Selection of the appropriate people to perform the marketing audit is also crucial to its success.
Marketing audit of the external surroundings analyses the customers, their needs and how to meet them, their behavior and decisions, perception of products and brands, segmentation, targeting and positioning on the market.
It has been suggested by a number of authorities that the least effective of these methods is the self-audit while the most effective is the outside audit.
The nature of competition is also studied, concerning its concentration, profitability, strengths and weaknesses, plans and strategies.
I remember back when I was in grade school I wanted to be a doctor when I grew up. How well it meets the requirements of the marketing concept in providing for customer needs as well as corporate profitability, facing the competition, adapting itself to changes in the macroenvironment, and how efficient it is in doing this.
Infrastructure — which include: Periodic — The marketing audit should normally be carried out periodically instead of only when there is a crisis. He has also designed a number of new initiatives to promote creative thinking in relation to new product development such as specialized Think Tank rooms, QMI quick market intelligence and VOC voice of the customer workshops.
Are we achieving our marketing budget?
The marketing audit focuses on three key headings: The standards and average levels of education.What is the role of Internal Audit? The Institute of Internal Auditors (IIA) defines Internal Auditing as: “An independent, objective assurance and consulting activity designed to add value and improve an organization’s operations.
A marketing audit is a comprehensive, systematic,independent and periodic evaluation of a company's marketing assets. It is a effective tool in reviewing the competence of a marketing strategy, analyzing the objectives, policies and strategies of the company's marketing department as well as the manner and the means employed in attaining.
The Role of a Marketing Department The Marketing Department plays a vital role in promoting the business and mission of an organization. It serves as the face of your company, coordinating and producing all materials representing the business.
The Role of Marketing As marketing gains increasing prominence as an orientation that everyone in the organization shares and as a process that all functions participate in deploying, a critical issue that arises is the role of the marketing function.
A marketing audit is a comprehensive, systematic, independent and periodic examination of companies or business unit's - marketing environment, objectives, strategies and activities with a view to determining problem areas and opportunities and recommending a plan of action to improve the company's marketing performance'(Kotler.P,).
5 Benefits of a Marketing Audit. In Interactive & Social. By Lisa Robbins. When beginning a marketing audit, you go through your marketing plan, project plans, and budget documents to get a better understanding of why it.Download