International Journal of Information Management

Running head: MARKETING AUDIT
MARKETING AUDIT
Name of the Student
Name of the University
Author Note

MARKETING AUDIT1
1. The quality of a marketing planning process is often determined by the success or else the
failure of the product or service which is marketed in the market. Therefore it is known for
depending upon the operations which are led by the company in the present day as well as in
the future (McDONALD, 2016).
In order to give a damn marketing plan a solid foundation or recommendation to the
product it is recommended that the five building components are the major components
found in a marketing planning process.
 Strategic analysis –There are various types of key issues which once be dealt by
the company comprehensively are the market analysis that is the potential market
where the product will be serviced. Customer analysis is known for targeting a
different segment of customers and determining their buying behavior to the
company. Competitor analysis in the market will be providing the way the
computer is known for operating in the market. The competitive advantage is
known for standing out the unique value proposition of the selling point of the
organization with other competitors.
 Setting goals - Regarding the points of setting goals it can be said that the
company has to provide various types of financial goals which might be hard like
for example the market share or written as well as the sales growth in the market.
the company has also to keep in mind regarding the goals related to the market as
well as goals related to the customer which might fall under the category of
organizations customer orientation, employee engagement and satisfaction.
 Choosing a firm strategy – A strategy is known for describing the way the
company or business organization will achieve the goals which has already been

MARKETING AUDIT2
set up from the development of competitive advantage. Regarding this strategy
the Potter’s analysis for porter’s competition matrix will be defining three basic
strategies which are differentiation strategy the cost leadership strategy and as
well as the specialization strategy.
 Strategy implementation on marketing mix – Planning strategy implementation
the most costly step in marketing planning process is the four cornerstone of
marketing mix which mainly includes the product pricing, promotion and the
place policy.
 Performance review – This is the last but one of the most vital step in marketing
planning process as because it helps the company to achieve the goals.
2. The government regulations of legislative requirements can have a direct impact on the
process of conducting a marketing audit as because decisions made by the government will
be affecting the operations are the operating unit which is present within the organization.
The governments factors are the political factors are known for referring to the political
forces as well as the influences that affect the performance of the options considered to the
operation and unit of the company.
The higher the rates there will be our decrease in the consumer spending power as well as
the lower the rates of interest there will be increase in the investment and the business
production.
3. Business plan is known for providing a wide of a review of the business which is known for
including various types of information like staff management operation of the business,
location of the business, marketing operations of the business and as well as the financial
aspect that are clearly mentioned in the goal and mission of the business organization.