Marketing Audit

This presentation provides an overview of marketing audit, including the evaluation of the business environment, BCG matrix, SWOT analysis, PESTLE analysis, target market, marketing communications mix, and budgeting. It emphasizes the importance of understanding the market and having a well-defined strategy for success. The presentation also includes references for further reading.

Marketing Audit

Table of content
1. Introduction
2. Audit business environment
3. BCG Matrix
4. Swot Analysis
5. PESTLE Analysis
6. Business’ Target Market
7. What segment(s) of the market it serve?
8. Marketing Communications’ Mix
9. How does the business intend to execute the marketing communication mix?
10. Does the business has enough budget to do it?
11. Conclusion
12. References

Introduction
 Marketing audit refers to systematic, evaluation, comprehensive and
interpretation of business marketing environment.
 It plays a necessary role in designing market plan for marketing in specific
market that aids in developing market plan.

Audit business environment
 Business environment is sum total of the internal and external factors
which influence business.
 It includes factors, which affect ability of company to develop as well as
maintain the successful customer relationship.
 An environmental audit is review of processes and operations to identify
compliance with the environmental regulations.

BCG Matrix
 It is a kind of framework that developed through Boston Consulting Group
for examine strategic business position of business brand portfolio and its
potential.
 It is mainly designed to help with the long term strategic planning that aids
Getabed to include growth opportunities through reviewing portfolio of
services. This matrix has four categories, which are given below:
 Stars
 Cash cows
 Question mark

Swot Analysis
Strengths
Gatebed hotel provides the safe Abode away from
home. It provides the clean, safe and decent
rooms to guests.
 The staff of this hotel is well knowledge and
able to provide better experience to
consumers.
 It offers travellers with opportunities to
personalize and customize their experience
through adding things which they require.
Weaknesses
 The main weakness of this hotel is that it has
lack of the social media access. It does not
use social media to connect with the people.
 It does not adopt the advanced technology to
make any innovation in its business.
Opportunities
 It has an opportunity to enhance international
and domestic travellers.
 It can access to the internet quickly to
connect with the people and also enhance
business operations.
Threats
 In hospitality industry of United Kingdom,
there is high competition.
 The instability of the government is also a
main concern.

PESTLE Analysis
 It is a kind of framework that mainly use to
analyse as well as monitor macro-
environmental factors which may have
impact on performance of business.
 This tool is mainly useful in beginning new
business or to enter in to global market.

Political factor
 It is related to degree of an intervention in an economy. It consists political
stability, policies, overseas market, tax policy, environmental laws etc.
 These all factors develop impact on the company and in what manner they
conduct business operations.
 As Getabed is start up business and government instability develop
negative impact on its operations.

Economic factor
 The factors included in this is rate of exchange, interest rate, fiscal policy,
taxation rates etc.
 These are important for an organization to follow in order to conduct
business without any hindrance.
 In context to Getabed which is, newly established business must work
accordingly in order to change these factors in a positive way.

Social factor
 The factors are connected with social beliefs, norms, cultural differences
which exit in a society or community.
 Every organization whether old or new should take care of social factor
while carrying business activities.
 In case of Getabed, the deals and packages should be made as per the
demands also, the food that is being served by it should not include any
such ingredient which against society’s beliefs

Technological factor
 The usage various technologies comes under this category.
 This factor has the most significant effect on the business as technology
keeps changing rapidly. An organization has to keep up the pace with such
modification.
 Getabed has been built in the present era, which is highly competitive;
therefore, it is imperative for it to use latest technology so it can survive in
the market for a long term by becoming a leader.

Environmental factor
 The factors which involve nature and surroundings of a society in which
people live are environmental factor.
 The increasing level of pollution and growing industrialisation have
contributed significantly to destroy the nature affecting the health of
individuals.
 Getabed should use technologies that are environmental friendly also
reduces the level of harmful substance.

Legal factor
 Every country has their own legal system and laws, which are applicable
to business and individual operating and living respectively, in the society.
 These are meant to govern their rights so that business can be conducted
lawfully.
 Getabed should ensure that all applicable laws are complied with in order
to avoid any legal obligations.

Business’ Target Market
 Target market means a group or set of potential customers to whom a
company proposes to sell its products or services.
 Every business existing or new business has their fixed target market for
making sales.
 A detailed analysis is conducted before choosing it to make profit and
become successful

What segment(s) of the market it serve?
 Market segmenting can be defined as a process of differentiating a single
market of potential customers into different categories based on different
features, which may be interests, needs or locations.
 It helps a business in focusing the most revenue-generating segment and
fulfil their demands to a satisfactory level.

Marketing Communications’ Mix
 Marketing communication mix refers to as a combination of five different
tools used by a business to connect with its customers and other
stakeholders.
 It is also called promotion mix as it helps in promoting the business and
raise the awareness about its presence in the target market.
 This should be effective enough to multiply the revenue generation.

How does the business intend to execute the
marketing communication mix?
 Getabed has recently established the business for which it will be using
two of the marketing communication mix, which are advertising, and sales
promotion.
 These will be executed through integrated marketing communication
(IMC). It is beneficial for the companies who wish to apply more than one
method for communicating with large number of customers.

Does the business has enough budget to do
it?
 Getabed is an all-new hotel, which has objective to provide its services at
low prices.
 For this purpose, it need budget through which all the required amount
will be paid for getting these services.
 The available financial resources have already been used in other
activities, which are prime.

Conclusion
 From the above PPT, it has been concluded that market is place where a
business need to survive and become successful.
 They should have their targets fixed before starting a business. This will
make them become a leader.
 The report has very well defined three most used analyses which are BCG,
SWOT and PESTEL for understanding the business environment.

References
 Kumar, P., 2015. Green marketing innovations in small Indian
firms. World Journal of Entrepreneurship, Management and Sustainable
Development, 11(3), pp.176-190.
 McDonald, M. and Wilson, H., 2016. Marketing Plans: How to prepare
them, how to profit from them. John Wiley & Sons.