International Journal of Information Management

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

1MARKETING AUDIT
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

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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.

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Open the business plan is used as a financial tool which lenders the necessary details
which will be able to determine that the business is viable or not. On the other hand the
marketing plan is known for detailing various types of action that the company needs to
achieve the targeted goals as well as mission said by the company. The marketing plan is
known for identifying the business price points, target market and as well as competition
with the competitors (Lidstone and MacLennan 2017).
4. Three types of Data collection techniques are observation techniques, questionnaires, direct
interview, and focus group sessions. Observation is known for directly having an eye
communication in the market as well as it is a quick and effective way of collecting data with
minimal intrusion.
Foaming questionnaires is loan for used in organization where they have to stand alone
instruments of Data collection which will be administered with various types of sample
subject either through mail phone or direct communication. Advantages of questionnaire are
that it gives the researchers an opportunity to carefully structure and formulate the data
collection plan with precision.
Where direct interview is on the other hand is known for conducting various types of
shortcoming Data collection techniques that is known for building a deeper understanding of
the thinking process from the answer provided by respondent. The last process is the focus
group discussion, focus group discussion is known for finding out a group of people who are
relevant for the server and password in them or else encouraging them to engage in a healthy
discussion to help the researchers overcome with the information required.
5. All total there are six important types of marketing audit but in this research paper there will
be only two types of marketing audit discussed. The first type of marketing audit is the

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marketing environmental audit and the second type of marketing audit is the marketing
productivity audit. The marketing environment audit is known for considering the external
environmental factors which are directly affecting the company in its operation.
Marketing environmental audit is known for including various types of natural
environment, economic environment data, political environmental data, demographic
environmental data and many more. Type of marketing environment audit is known for
analyzing the market as well as the consumers in the market and proceeds to the competitors
and suppliers present in the market. Therefore this type of marketing environment audit is
known for helping the company to make various types of marketing strategies and proceed
with their discussions. The second best type of marketing audit is the marketing productivity
audit. The marketing productivity audit is known for finding out the profitability of the
company’s product as well as the operations of the company in the production of a certain
product or service. the marketing productivity audit is known for exam in the range of
markets which are available for the company to operate in. marketing productivity audit is
also known for exam as well as determining various types of measures to improve the cost
effectiveness of the product as well as services offered by the company.
6. The marketing audit is the only one way which helps the company in using various types of
marketing strategies and can offer the company with various types of strategies which will
help it to climbing the stairs of the goals. The marketing audit is also known for providing the
company with various types of stakeholder assessment and as well as the social media
automation of the business.
Marketing audit is also known for identifying various types of insights into the data
which is required to determine the strength and weakness of the company as well as its

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performance in the target market. The benefits of performing a marketing audit are that it was
as well as discovered the marketing flowers which allow the company of the agency to fill
the gaps. Specifically talking about the benefits of a marketing audit it is known for
identifying the areas of improvement as well as identifies the areas where the company can
excel in and build up. It also helps a company to drive the marketing strategy with various
types of data insights collected during the process. Does its formula various types of
performance strategy and helps a company in measuring the return on investment.
7. Comprehensive -the market is known for having four major characteristics out of which the
comprehensiveness is one of the broad focuses of marketing audit. The comprehensive is
known for having a broad focus that covers the entire marketing environment of the company
therefore it should be an objective exercise considering independent nurse of the managers
who are directly involved in marketing decisions.
Systematic - the marketing audit should be e considered to be followed by a step by step
procedure which is letter extend as a systematic process. Therefore should study the
marketing environment then it should for the study the internal marketing system and
explain the marketing. The next process is involved in finding out the problems and
providing action plan to remove the problems.
Independent – the marketing plan should be conducted independently that is it should be
conducted by an autonomous person working in the marketing department.
Periodic – regarding the periodic activity the company must conduct a marketing audit
regularly or else on a periodic basis so that it does not create any further problem to the
company (Hollensen and Opresnik, 2019).
8. The basic elements of the components of the marketing audit are given below they are

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 Macro environment audit which is known for including all the external factors
that affecting the business marketing performance examples like demographic,
cultural economic political and environmental factors are included in this process.
 Task environment audit is known for considering the factors which are closely
associated with the company or else affecting the efficiency of marketing
strategies.
 Marketing strategy audit is known for assessing the viability of business
marketing strategies as well as the objectives or goals of the business.
 Marketing organizational audit is the evaluation of the business implies which are
conducted at different levels of Management.
 Marketing productivity audit is known for doing various types of evaluation
process on the basis of performance of different marketing activities.
9. Regarding the classification of business environmental factors it can be said that the business
environmental factors are known to be considering the internal and external environmental
factors. This factors on for consisting of socio-cultural factors, demographic factors, natural
factors, physical factors, technological factors, political factors, and as well as the legal
environment that is known for influencing the economic environment of the company.
The basic difference between the macro environment or micro environment is that the
microwave affected by the close environment of the nearby environment what the form
operates where as on the other hand the macro environmental factors is known for referring
to the general environment which can affect the working of the business enterprise such as
the competitors the suppliers as well as the direct customers of the business. Micro
environment is known for considering the elements such as the competitors and the suppliers.

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Whereas on the other hand the macro environmental factors is known for considering the
pestel analysis of the business.
10. External environment are the external factors of the business is known for composing the
outside factors which influences or have a direct impact with the operations of business. the
business organization therefore must act accordingly in order to keep up its flow with the
operation of the business in the market. The external environment of the external factors is
known for considering the macro environmental factors of the company. Two the
components of the macro environmental factors of the company include the economic factors
that directly in the villages with the supply as well as demand of the product, the exchange
rates and the interest rate as well as government spending by the company. it also includes
how the company reacts to the economic changes in the market it is operating in.
Another factor is known for the social cultural environmental factor which is known
for compromising the way the consumers behave with the satisfaction of the product or
service offered by the company (Phadermrod, Crowder and Wills 2019).
11. The SWOT analysis is known for supporting the effective strategy planning which are based
on the examination of the forms capabilities and as well as its performance in the external
environment of marketing audit analysis therefore it is mainly used in the business
organization where our business is known for performing the SWOT analysis to conduct a
marketing audit along with the competitors. The SWOT analysis is known for forcing the
form to examine its business and consider the present and future competition in the market
(Büyüközkan and Ilıcak 2019).

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References
McDONALD, M.A.L.C.O.L.M., 2016. Strategic marketing planning: theory and practice. In The
marketing book (pp. 108-142). Routledge.
Lidstone, J. and MacLennan, J., 2017. Marketing planning for the pharmaceutical industry.
Routledge.
Hollensen, S. and Opresnik, M.O., 2019. Marketing Mix in the Marketing Planning
Process. World Scientific Book Chapters, pp.203-382.
Hollensen, S. and Opresnik, M.O., 2019. Implementation and Controlling in the Marketing
Planning Process. World Scientific Book Chapters, pp.383-477.
Phadermrod, B., Crowder, R.M. and Wills, G.B., 2019. Importance-performance analysis based
SWOT analysis. International Journal of Information Management, 44, pp.194-203.
Büyüközkan, G. and Ilıcak, Ö., 2019. Integrated SWOT analysis with multiple preference
relations. Kybernetes.