BSBMKG515A Conduct a marketing audit

|D1 |Evaluate the effectiveness of the use of techniques in marketing products in one organisation. |

According to authors Ferrell and Hartline, the first step in reviewing a company’s marketing strategy involves “critical evaluation of the firm’s internal environment with respect to its objectives, performance, allocation of resources, structural characteristics, and political climate” (Ferrell & Hartline, 2011).

In this Assessment Task, you are required to prepare for a marketing audit by developing a plan

Marketing is all about creating a really solid decision, which will lead to more money. In this paper I will give some history of my organization, and explain how each element of marketing affects the organization. In addition I will cover the industry in which the organization resides in.

Marketing plays the most important role for the success of a business. In this chapter, the business’ marketing objectives are laid out together with the plans or actions that will be needed to achieve these objectives. Furthermore, this chapter includes the profile of the respondents which aided the researchers to create this part of the feasibility study.

Effective planning is essential for any marketing activity to ensure that an organisation realises its marketing objectives. Without planning, marketing activity can be inappropriate and waste resources and opportunities. This unit introduces learners to different ways of auditing, to looking at how internal and external factors

The audit will discuss the current objectives and future strategies of the brand, current promotional, product and price

In this assessment task you are required to review and evaluate marketing opportunities for an organisation and develop marketing activities that reflect the strategic directions of the organisation.

An important part of the planning process is observing at the present position of the business and trying to choose how factors outside of the business might affect the business. Business do a SWOT examination as a way of determining which marketing strategy to use. The business does a review on the interior and exterior nature of the business looking at the current and upcoming condition. An audit is a review of all the business’ doings.

Assess the value to small businesses of carrying out marketing audits. Illustrate your arguments with reference to an existing small business of your choice

First of all I would like to thank you for providing this tremendous opportunity of expressing my views on Marketing Audit. As we all know, Marketing Audit is a systematic, critical and appraisal of the total marketing operation of the objectives and policies and the assumptions which underlie them as well as the methods, procedures, personnel and organization employed to implement the policies and achieve the objectives. It evaluates mainly three key areas i.e. external marketing environment, internal marketing environment, evaluation of current marketing strategy. 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.

For my marketing audit I have chosen NEXT PLC, I worked for this company a few years ago so I sense it necessary to use my work for educational purposes. In this marketing audit I will give an overview of the company alongside its marketing goals and objectives. In addition I will deliver material about the company’s strengths and weaknesses. Additionally, I will describe the service, communication plan and outline marketing activities. Concluding with the benefits to the organisation that results from the implementation of the marketing activity gained in this audit.

The tutor will not take part in disputes between group members except to make a final judgement about the allocation of marks if not agreed. No proof means that the tutor will award equal marks to all group members.

A marketing audit is an evaluation of the marketing within an organisation to see if their strategies in place are effective within the marketing environment.

Marketing audit can be defined as a study, inspection, review and/or evaluation of marketing activities of any company. Basically, it estimates the marketing environment of the company, aims, strategies, and policies of the company. After evaluation of marketing plans and strategies, it has to identify the mistakes, weaknesses, insufficiencies, complications and other issues to be encountered in firm’s marketing purposes. The final outcome of the marketing audit recommends measures and/or suggestions to overcome these defined limitations of the current marketing plans. It defines the new marketing opportunities for the company’s growth. Generally, marketing audit tries to improve the performance of company’s marketing activity. In other words, Marketing Audit is a broad, organized, self-governing and systematic examination process for firm’s marketing activities.