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Marketing audit

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Marketing Audit by Emmanuel Alexander Jathanna (M.com)

Marketing audit

  1. 1. Presentation By: Emmanuel Alexander Jathanna (M.Com Previous) Milagres College kallianpur. ©EMMANUEL A J
  2. 2. ©EMMANUEL A J
  3. 3. What is a Marketing Audit? A marketing audit is a detailed and systematic analysis of a company's problem areas in terms of market penetration. The analysis is done independently by the company itself. The analysis analyses the market environment, the marketing strategies, and company objectives to better see where the company may be falling behind. ©EMMANUEL A J
  4. 4. The salient features or characteristics of marketing audit are as follows:  Marketing audit is a comprehensive study of all marketing activities.  It is a systematic-process that follows a step-bystep procedure.  It is a periodic activity and must be conducted regularly.  It is conducted by an independent person who is not from company. ©EMMANUEL A J
  5. 5. Cont…. It is a critical review of marketing activities of company. It is an evaluation of marketing activities of company. It finds out marketing opportunities and weaknesses of company. It is a preventative and curative marketing medicine. ©EMMANUEL A J
  6. 6. Scope, Areas or Types of Marketing Audit There are no fixed guidelines regarding the scope, areas or types of marketing audit. In other words, the scope of marketing audit is not fixed. It changes from company to company. Each company can make its own marketing audit plan. However, the scope of marketing audit must include the following areas or types: The six important types of marketing audit are: Marketing Environment Audit. Marketing Strategy Audit. ©EMMANUEL A J
  7. 7. Cont…. Marketing Organization Audit. Marketing Systems Audit. Marketing Productivity Audit. Marketing Function Audit. ©EMMANUEL A J
  8. 8. How to conduct a marketing audit: The marketing audit is a fundamental part of the marketing planning process. It is conducted not only at the beginning of the process, but also at a series of points during the implementation of the plan. The marketing audit considers both internal and external influences on marketing planning, as well as a review of the plan itself. ©EMMANUEL A J
  9. 9. Cont…. Lets consider the marketing audit under three key headings: The Internal Marketing Environment. The External Marketing Environment. A Review of Our Current Marketing Plan. ©EMMANUEL A J
  10. 10. Cont….  There are a number of tools and audits that can be used, for example SWOT analysis for the internal environment, as well as the external environment. Other examples include PEST and Five Forces Analyses, which focus solely on the external environment.  In many ways the marketing audit clarifies opportunities and threats, and allows the marketing manager to make alterations to the plan if necessary. ©EMMANUEL A J
  11. 11. 1.The Internal Marketing Environment. What resources do we have at hand? (i.e. The FIVE 'M's): MEN (Labour). MONEY (Finances). MACHINERY (Equipment). MINUTES (Time). MATERIALS (Factors of Production). ©EMMANUEL A J
  12. 12. 2. The External Marketing Environment:  As a market orientated organisation, we must start by asking What is the nature of our 'customer?' Such as:  Their needs and how we satisfy them.  Their buyer decision process and consumer behaviour.  Their perception of our brand, and loyalty to it.  The nature of segmentation, targeting and positioning in our markets.  What customers 'value' and how we provide that 'value?.'  What is the nature of competition in our target markets? ©EMMANUEL A J
  13. 13. Cont….  Our competitors' level of profitability.  Their number/concentration.  The relative strengths and weaknesses of competition.  The marketing plans and strategies of our competition.  What is the cultural nature of the environment(s)?  Beliefs and religions.  The standards and average levels of education. ©EMMANUEL A J
  14. 14. 14 ©EMMANUEL A J

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