BSBMKG515 Conduct A Marketing Audit Assessment 2022

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BSBMKG515 Conduct a marketing audit
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I declare that:
 This assessment is my own work, based on my own study and research and no part of it
has been copied from any other source, except where due acknowledgement/reference
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 If this assessment was based on teamwork, as authorised by the trainer, I have not
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College’s requirements as an RTO.
 Any assessment deemed unsatisfactory will require me to undergo reassessment which
may be different to the one originally submitted.
 I am aware that in the event that I disagree with the assessment outcome I have the
right to appeal that result. I will follow the complaints and appeals process.
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QUEENSFORD COLLEGE Business
BSBMKG515 Conduct a marketing audit
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QUEENSFORD COLLEGE Business
BSBMKG515 Conduct a marketing audit
ASSESSMENT SUMMARY SHEET
To be deemed competent students must have a satisfactory result recorded for each
assessment activity. If a result is not satisfactory for any assessment task, the
trainer/assessor will determine the training and assessment tasks to be completed.
TASK 1 QUESTIONS AND ANSWERS
 SATISFACTORY  NOT YET SATISFACTORY  NOT APPLICABLE
TASK 2 KEY TERMS DEFINITIONS
 SATISFACTORY  NOT YET SATISFACTORY  NOT APPLICABLE
TASK 3 CASE STUDY
 SATISFACTORY  NOT YET SATISFACTORY  NOT APPLICABLE
TASK 4 WORK BASED PROJECT
 SATISFACTORY  NOT YET SATISFACTORY  NOT APPLICABLE
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RTO No. 31736 |CRICOS 03010G
Business
Assessment Kit
BSBMKG515 Conduct a marketing audit
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BSBMKG515 Conduct a marketing audit
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Copyright © 2016 Malekhu Investments trading as Queensford College. All rights reserved.
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QUEENSFORD COLLEGE Business
BSBMKG515 Conduct a marketing audit
ASSESSMENT INFORMATION – STUDENT
General Information
This assessment is suited as a summative assessment in a learning and assessment
pathway. The timeframe and deadlines for the assessment will be negotiated
between yourself, the student, and your assessor. Your assessor could be the same or
a different person to your trainer.
In order to be assessed as competent, you will need to show sufficient evidence which
demonstrates that you can perform the required competencies to the required
standard. You also need to show you can demonstrate these skills, attitude and
knowledge consistently, confidently and sometimes in a variety of situations.
Gathering evidence
Queensford College Assessors will use a variety of methods for gathering evidence.
Assessments will be made up of a combination of the following tasks:
Question and Answer - (written or verbal) - You will have a set of written questions
to complete. Your assessor is likely to ask you to verbally verify some of your
answers.
Project - You will need to complete one or several projects that relate to the
simulated work environment. This will allow you to demonstrate the application of
your knowledge and skills as required by the unit/s of competency.
Activities - You will need to complete activities that relate to the simulated work
environment to demonstrate your understanding of the unit/s.
Assessor Observation/Demonstration - You will be asked to demonstrate some
tasks directly to your assessor. This may happen, either in the classroom or in a
simulated work-environment as you perform your usual tasks/ duties.
Please make sure to write your name on all assessment documents.
If you do not agree with an assessment decision you have the right to appeal. See
other attachment
Note: Please ensure that all work/evidence provided is your own. If you are found to
have submitted work other than your own, your enrolment may be cancelled and you
may be withdrawn from the program. Your signed Student Declaration forms part of
the assessment record. For further information, please refer to your Student
Handbook.
Assessment resources
For classroom based assessments, your assessor will provide you with all necessary
resources to complete the assessment tasks. For simulated workplace based
assessments, Queensford College will ensure that you have access to the resources
you require to complete the assessment tasks.
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QUEENSFORD COLLEGE Business
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Please note
The practice of plagiarism or collusion is prohibited. Plagiarism is the practice of taking
someone else’s work or ideas and passing it off as one’s own work and collusion is the
presentation another person’s assessment as one’s own and/or providing your own
work to another person to allow them to pass it off as their own. If you are unclear
about any of the requirements for this assessment, please discuss this with
your assessor.
NOTE – Re-assessment:
Students will have a maximum of two (2) reassessments attempts if competency
is not achieved in the first instance.
The final grade of ‘C’ for Competent or ‘NC’ for Not Competent is only given at the
completion of the unit of competency when all components or parts of the assessment
are graded as ‘S’ for Satisfactory. Unsatisfactory results are marked as NS.
1. Prepare for marketing audit
2. Identify form of marketing audit
3. Conduct external marketing audit
4. Conduct internal marketing (self) audit
5. Prepare marketing audit report
Performance evidence
Evidence of the ability to:
 Evidence of the ability to:
 Apply statistical and qualitative analysis techniques to identify:
- Current business performance
- Competitor performance
- Potential threats and opportunities
 Apply qualitative and forecasting techniques to identify:
- Success of marketing activities
- Over and under-performing products and services
- Existing and emerging market needs
 Document the analysis of market data including visual presentation of findings
Foundation skills:
Reading
 Identifies and evaluates complex textual information when auditing workplace
documentation
Writing
 Uses clear, accurate and relevant language to organise and record information
using suitable organisational formats
Oral Communication
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 Participates in verbal exchanges using appropriate language and non-verbal
features
Numeracy
 Interprets numerical data and makes basic calculations to audit external
marketing, quantify data and determine financial gains
Navigate the world of work
 Adheres to organisational policies and objectives, and considers own role for its
contribution to broader goals of work environment
Get the work done
 Develops plans and uses effective time management and organisational skills to
complete tasks with an awareness of how they may contribute to longer-term
operational and strategic goals
 In more complex, non-routine situations, uses formal decision-making processes,
setting or clarifying goals, gathering information and identifying and evaluating
several choices against a set of criteria
 Recognises and uses a range of relevant digital language and symbols
 When dealing with complex issues, identifies cause of the problem, and uses
analytical processes to generate possible solutions
Knowledge evidence
To complete the unit requirements safely and effectively, the individual must:
 Identify elements of marketing planning
 Discuss organisational business and marketing plans
 Explain research methodologies and data collection techniques appropriate to
marketing services industry
 Summarise different types of marketing audits.
Assessment conditions
Assessment must be conducted in a safe environment where evidence gathered
demonstrates consistent performance of typical activities experienced in the business
development – marketing field of work and include access to:
 Office equipment and resources
 Appropriate documentation and resources used to conduct marketing audit
activities
 Case studies and, where possible, real situations.
Assessors must satisfy NVR/AQTF assessor requirements
Links:
Companion volumes available from the IBSA website:
http://www.ibsa.org.au/companion_volumes
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TASK 1: QUESTIONS AND ANSWERS
INSTRUCTIONS
Please write your answers clearly in the space provided. All questions must be
answered, please ask your assessor if you don’t understand any of the questions. If
you require more space attach a page clearly marked with your name, the name of
the unit of competency (which can be obtained from the front of this Assessment
booklet and the question you are responding to. Some questions may require you to
reference the learning materials provided by Queensford College. Your assessor will
ensure that you have been provided with all relevant documentation.
T1,Q1.
Thinking about external marketing audits, there are 15 key pieces of organisation
required that have been identified to complete a successful audit. List 5 (five) of
them below (including descriptions of each identified piece.
While analysing the external marketing audit, the major five elements which are
required to be analyzed are as follows:
1. Economic Forces-It is the first and foremost element which needs to be
managed by the company suitably as it will be affecting the growth of the
company. The auditor may wish to look into the different kinds of balance
sheet and other supporting financial documents which will be helpful in
understanding the scenario effectively.
2. Cultural and Social Forces- It is the other element which needs to be managed
as the culture of the company is the first and foremost element which needs
to be managed by the company effectively.
3. Legal, governmental and political forces- It is the third element which needs
to be managed while analysing the external audit as it will be the best aspect
which can be used for analysing the revenue generation aspects along with it
creates negatively affect revenues of the company.
4. Technological Forces- It is the other aspect which is beneficial in
understanding the different innovation related aspects which needs to be
managed as it will be beneficial in understanding the revenue projections.
5. Demographic Forces- It is the last aspect or element of the external audit
related to marketing wherein it can be seen that the changed demographics
can be negatively or positively affecting the growth of company. The auditor
needs to evaluate the most luxury related aspects which needs to be
regarding the changing tastes and preferences of the company.
Assessor Use Only: Correct Written
Response
Correct Verbal Response (please provide
notes)
T1,Q2.
When considering an internal marketing audit describe a minimum of four of the
internal elements that the audit should deal with and provide an example of each:
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1. Internal Environment Analysis-It is the other factor which needs to be
identified which can be done through SWOT analysis that can be helpful in
understanding the effectiveness of the company suitably. With the help of
SWOT analysis, there can be incorporation of the different kinds of strengths,
weaknesses, opportunities and threats which needs to be analyzed and
identified as it will be suitable for making the tasks become more effective
and it will be beneficial in gaining competitive advantage. For instance- SWOT
analysis is the internal analysis framework which will be suitable for
identifying the different kinds of strengths, weaknesses, opportunities and
threats which can be beneficial in managing the effectiveness (Chaffey and Ellis-
Chadwick 2019)
2. Training is the second element which needs to be analyzed as it will be
required that the different internal auditors need to be fully trained as they
will be gaining more views on the respective process. For instance- There will
be incorporation of training and development of employees which will be
effective in managing the process of internal audit successfully.
3. Planning, Forecasting and Recording- It is the third element which needs to be
analyzed effectively as it will be suitable for identifying the different internal
activities or the nature of the audit that can be suitable for completing the
work strategically. For instance- The planning is required to be done regarding
the company’s internal assets and liabilities which will be helpful for
understanding the effectiveness (De Mooij 2018)
4. Systems Control- It is the other element which needs to be analyzed which
can be identified for ensuring the compliance with the different statutory
requirements. For instance- The proper adherence to the different statutory
requirements can be helpful for making the company become more efficient
(Kerin and Hartley 2015)
5. Evidence- It is the other aspect wherein the internal auditor has the similar
kind of trends for taking the same as the evidence as the external auditor. For
instance- There should be reporting wherein the internal auditor will produce
timely and accurate reports to management suitably.
Assessor Use Only: Correct Written
Response
Correct Verbal Response (please provide
notes)
T1,Q3.
When identifying your marketing profitability and cost effectiveness, what are the 3
main overhead costs that need to be identified and recorded?
1. Fixed Overheads- It is the one aspect which remains constant each and every
month and it does not change with the changes in the level of the business
activities. The different examples of the fixed overheads include government
related licenses and depreciation of the assets.
2. Variable Overheads- It is considered to be the different expenses which vary
with the business activity levels and it may increase or decrease. It can be
suitable for analysing the cost effectiveness as it will be suitable for the
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growth of the company appropriately and it will be enhancing the
effectiveness of the company (Kotler et al. 2018).
3. Semi-Variable Overheads- It includes the different characteristics of both
variable and fixed costs and the different businesses incorporate such costs in
the market which will be suitable for managing the different levels of the cost
effectiveness and profitability in the market.
Assessor Use Only: Correct Written
Response
Correct Verbal Response (please provide
notes)
T1,Q4.
What are the 6 (six) different types of Marketing Audits? In your own words, include
a brief description of each.
1. Market Environment Audit- It is consisting of the different kinds of external
environment of the company which consists of the natural environment,
economic, political along with the demographic environment. It analyses the
marketing consumer, competitors along with making the marketing
strategies.
2. Marketing Organization Audit- It is the critical analysis which analyse the
different resources of the company such as manpower, employee
development and training that will be suitable for the growth of the company
suitably (Kotler, et al. 2017).
3. Market Strategy Audit- It is considered to be the systematic study of the
marketing strategies as well as objectives and it will be suitable for identifying
whether the marketing objectives of the company are proper and clear.
4. Marketing Systems Audit- It is suitable for finding out the different abilities of
the company for collecting as well as analysing the data and it looks for the
ability of the company for controlling the different activities of the company
suitably and improve the business operations successfully.
5. Marketing Productivity Audit- It is suitable for identifying the profitability of
the company that will be enhancing the growth of the company.
6. Marketing Function Audit- It is the aspect which is considering the different
marketing functions in relation to the product, prices and promotion of the
different products and services (Lovelock and Patterson 2015).
Assessor Use Only: Correct Written
Response
Correct Verbal Response (please provide
notes)
T1,Q5.
Explain why the “Executive summary” in a marketing audit report is written last?
List three other audit report sections & the reason for their inclusion
The executive summary is written in the last of the marketing audit report as it will
be suitable for summarising the key points of the document for the different readers
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as it will be providing a brief understanding regarding the different kinds of
upcoming events or the future events which can be taking place while making the
marketing audit report.
The three different sections which are included in the report sections are:
1. Responsibilities of the different auditors and directors who are the main
personalities involved in the process
2. The scope and importance are intended to be kept in the second paragraph
which will be discussing the different kinds of standard accounting practices
which will be suitable for the growth of the company (Kotler et al. 2015)
3. Lastly, the role of the different directors and auditors are defined which will be
suitable for analysing their role in handling the different business operations
successfully
These are the three major aspects which are included in the auditor report as it will
be suitable for managing the different activities which are performed by the auditors
or directors working in the company successfully along with managing the
effectiveness suitably.
Assessor Use Only: Correct Written
Response
Correct Verbal Response (please provide
notes)
T1,Q6.
List three areas of the business likely to be involved in a marketing audit. Detail why
you nominated these three.
The different kinds of areas of the business which are likely to be involved in the
marketing audit includes the swot analysis which will be suitable for identifying the
internal environment analysis that will be beneficial in understanding the strengths,
weaknesses, opportunities and threats which will be suitable for the growth of the
company in contrast to the other competitors.
Moreover, the customer and prospect research are the two major elements which
should be included in the respective marketing audit as they are considered to be
the most important asset of the company and they needs to be understood wherein
their aims and objectives can be included and it will be suitable for improving the
effectiveness of the company.
Lastly, the marketing strategies along with objectives are required to be analyzed
effectively in the auditor report which will be suitable for understanding the different
kinds of behaviour of the company and it can be effective in managing the business
operations successfully.
According to me, I have nominated the respective three aspects as these are the
most crucial elements which should be managed in the report wherein the different
kinds of responsibilities are being mentioned which will be suitable for managing the
activities appropriately.
Assessor Use Only: Correct Written Correct Verbal Response (please provide
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Response notes)
Further
Comments
Assessor Declaration: By signing below, I declare that all of the above activities have been
satisfactorily completed and that I have verbally authenticated these if required.
Assessor Name
Assessor
Signature:
Date
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TASK 2: KEY TERMS DEFINITIONS
Student Instructions
You are to provide definitions of the key terms listed in the table below, together with
a workplace example of how the term is likely to be used.
TERM DEFINITION WORKPLACE EXAMPLE
Example:
Macro environment
The environment outside
of the control of the
organisation.
The macro environment
included recent political
shifts resulting in changes
to consumer protection
legislation
Customer Lifetime Value It is considered to be the
prediction of the net
profit attributed to the
entire future relationship
with the different
customers present in the
market. In order to
calculate the customer
lifetime value, it can be
calculated through
analysing the average
purchase made by the
different customers and
multiply the same with
the number of average
purchase frequency rate
which will be suitable for
the different growth
prospects
A profit which is
generated by the
customers each and
every year is $1000 and
the number of years they
are the customers of the
brand is 5 years and the
cost to acquire the
customer is $2000
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TERM DEFINITION WORKPLACE EXAMPLE
Customer retention It refers to the different
kinds of activities which
are suitable for reducing
the rate of attrition of the
different customers of the
companies. It can be
done through the
different retention
strategies such as loyalty
among the customers as
well as brand loyalty
which will be suitable for
managing the
effectiveness.
With the help of the
different onboarding
programs, the companies
can be helpful in retaining
the customers in a
suitable manner.
Element It is inclusive of the
different kinds of
concepts which include
product, price, place ands
promotional activities
which will be suitable for
the growth of the
company in comparison
to the other competitors
present in the market
effectively
Through the help of
marketing mix, the
different demands of the
different products can be
analyzed successfully
which will be beneficial in
gaining competitive
advantage
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TERM DEFINITION WORKPLACE EXAMPLE
Qualitative research It is considered to be the
primarily exploratory
research which helps in
providing proper
understanding of the
underlying reasons,
opinions along with
motivations. It helps in
providing proper insights
in the problems or help to
develop the ideas for the
different potential
quantitative research
suitably.
It can be conducted with
the help of the different
open ended questions
which will be beneficial in
involving the different
kinds of activities and it
will be suitable for the
effectiveness in the
management related
activities
Management Information
System
Management Information
System is the computer
system which is
consisting of the different
hardware along with
software which serves as
the backbone of the
organizations operations
successfully.
It is inclusive of the
different kinds of
activities and functions
which include customer
relationship, project
planning along with
business analysis which
will be suitable for
gaining competitive
advantage
Market Demand It is considered to be the
sum of the individuals
demand for the product
from the different buyers
in the market. It is
considered to be the
ability to pay for the
different items on sale.
The suitable example for
the same is that there
can be huge demand of
the certain items as the
customers have the
knowledge that there will
be increase in price of the
same and they cannot
afford the same in the
next few years.
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TERM DEFINITION WORKPLACE EXAMPLE
Market Share It is considered to be the
portion of the market
which is being controlled
by the company. The
entire market share can
be determined with the
help of the different kinds
of total sales or revenues
which will be suitable for
analysing the role.
The XYZ electronics sold
$5 million in televisions in
United States of America
and it can be bought by
the customers which
increases the overall
market share suitably and
it will be beneficial in
growth of the company
Product Lifecycle The product lifecycle
comprises of the
sequence of the stages
from introduction to the
growth, maturity along
with decline. The
respective sequence is
known as the product
lifecycle and is associated
with the different
changes which can be
incorporated and
improved with the help of
the different aspects
which will be suitable for
making the products
more effective for the
customers.
The product life cycle
comprises of different
stages wherein it is
inclusive of the growth
stage that can be for
Woolworths which can be
seen that it can make
them more effective and
competitive in
comparison to the other
competitors present.
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TERM DEFINITION WORKPLACE EXAMPLE
Sales Revenue It is considered as the
amount which is being
realized from the different
sale of goods and services
appropriately. The
respective aspect can be
used in determining the
sales generated by the
company after the defining
of size of the business
appropriately.
Woolworths selling
groceries to the different
customers in the market
can gain competitive
advantage through
incorporation of the
different kinds of sales
related revenues and
other strong USP
Marketing Return on
Sales
It is considered to be the
ratio of the sales which
can be gained through
proper evaluating the
operational efficiency of
the different companies.
It is the measure which
helps in providing the
insight on how the profit
can be ascertained and it
will be suitable for the
growth of the companies
in a successful manner.
While selling a product to
the customers, it can be
seen that there are
different strong points
which needs to be
included such as the low
selling price of the items
which makes the
company effective in
managing operations
successfully.
Variance It is considered to be the
quality of being different
or inconsistent in nature
and it is suitable in
managing the different
activities appropriately
and gaining the
competitive advantage in
the market appropriately
as well.
Woolworths in Australia
sell various kinds of
grocery items at low price
which is the most
significant fact which can
be suitable for the growth
of the company and gain
competitive advantage in
the market as well.
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QUEENSFORD COLLEGE Business
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TERM DEFINITION WORKPLACE EXAMPLE
Customer Metrics It is defined as the aspect
which is considered to be
the technique in
measuring the value of
the customers to you and
the value which is being
provided by them. It is
inclusive of the different
factors which consists of
the facts such as
customer satisfaction that
is beneficial in improving
the scenario.
The customer metrics can
be seen in different
supermarkets wherein
they provide the
customers with a iPhone
tablet which allows them
to showcase their views
on the different items
which are being sold by
them and it is liked by the
customers
Characteristic It is considered to be the
main feature of the
different products and
services which will be
suitable for identifying
them and it will be
beneficial in improving
the market scenario
suitably. It will be
considered to be the
integral part in the
respective scenario and it
helps in managing the
effectiveness.
Apple iPhone have
different kinds of
characteristics which
includes the different
models which are
competitive and it will be
suitable for managing the
effectiveness suitably for
the growth.
References
Chaffey, D. and Ellis-Chadwick, F., 2019. Digital marketing. Pearson UK.
De Mooij, M., 2018. Global marketing and advertising: Understanding cultural paradoxes. SAGE Publications
Limited.
Kerin, R. and Hartley, S., 2015. Marketing: the core. McGraw-Hill.
Kotler, P., Bowen, J.T., Makens, J. and Baloglu, S., 2017. Marketing for hospitality and tourism.
Kotler, P., Burton, S., Deans, K., Brown, L. and Armstrong, G., 2015. Marketing. Pearson Higher Education
AU.
Kotler, P., Keller, K.L., Ang, S.H., Tan, C.T. and Leong, S.M., 2018. Marketing management: an Asian
perspective. Pearson.
Lovelock, C. and Patterson, P., 2015. Services marketing. Pearson Australia.
Shaw, S., 2016. Airline marketing and management. Routledge.
Further
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Comments
Assessor Declaration: By signing below, I declare that all of the above activities have been
satisfactorily completed and that I have verbally authenticated these if required.
Assessor Name
Assessor
Signature:
Date
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TASK 3: CASE STUDY
Student Instructions
For the following case study questions you are welcome to use your current workplace
or former workplace as your example or you may choose to complete the questions
using the below situation. It is up to you; however, research is going to be needed for
whichever situation you decide to go with. When you have finished this task, attach it
to this completed assessment workbook to hand in.
Example situation
You are the manager of a well-established functions venue in Mt. Tamborine QLD. It is
able to hold up to 200 people for a plated dinner, dancing and canapes. The venue
also has an area set aside for the performance of wedding ceremonies and you
provide recommendations to celebrants for the clients as well as DJ’s, caterers and
theming.
Your main business, representing 75% of turnover, is hosting weddings, commitment
ceremonies and wedding vow renewals. You are not the only function centre in the
area but you do have a spectacular view of the Gold Coast and Hinterland, which none
of your competitors can match.
Marketing & sales information is as follows:
 You have marketing information (brochures, leaflets & posters) that is spread
around the Gold Coast as well as on notice boards – focused mainly on weddings
 You have a website and a social media page on Facebook where you continue to
draw business from
 You get some referral business from past clients but not much
 You have a large past clients database but you haven’t done very much with it –
running the venue day to day takes up too much of your time
 You have a large list of DJ’s, photographers, celebrants & decorators that you have
worked with but only contact them when a client needs a recommendation
 You get together with your competitors on a regular basis for informal lunches &
they have been doing very well with special occasion events like birthdays &
anniversaries (markets you have not done much with).
 Business in the area, as a whole, is booming but your growth is barely keeping up
with inflation
 Whilst you are very busy most weekends, mid week is very slow
In order for you to generate more business and analyse your current statics you are
going to conduct a marketing audit to ensure you are targeting all of the right people
and other businesses for gaining possible customers. You have been asked to conduct
this audit because you have a new owner coming within the next 2 (two) weeks and
they want to know what is working and what is not.
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Questions:
1. What is the main purpose of conducting this marketing
audit?
T1,Q7. The main purpose of conducting the marketing audit is to analyse the
marketing plans, the objectives that have been set, the strategies that would
fulfil the greater objectives, and the activities that have an impact on the
business. The review of all these aspects is to scrutinise the strengths and
weaknesses of the company. Moreover, it would help my organisation to re-
evaluate all the companies’ events in detail, the factors which needs to be
eliminated, and the ones which needs restructuring, etc. Besides, it would also
help me gain an insight into the proceedings of the work, the problems that
have cropped up due to unforeseen circumstances which can be further
amended for the improvisation of the facilities. Marketing audit would also help
my organisation gain knowledge about different strategies and new ideas that
would be beneficial for the company’s enhancement. It explores the areas that
are yet to be explored and provide my companies with the varying possibilities
that would help in the further exploration of the organisation. The potential
competitors would also be analysed and strategies can be carved out keeping it
in align with the current trends. Therefore, marketing analysis would help to
explore the hidden potentiality of the organisation.
2. When should an Internal/External marketing audit be undertaken in accordance to
your chosen organisation? Why? What steps are involved?
The internal/external marketing audit should be undertaken to analyse the various
aspects of the organisation that would help it to function in an efficient manner. The
internal audit will mainly be conducted to have a detailed analysis of the internal
affairs of the company. More specifically, the times when there is a dire need of
internal auditing arises are –
 To add value to the organisation.
 The internal audit program would help to track the environment and analyse
any mitigation or risks.
 It would provide an efficiency to the operations.
 It would also help in complying with the rules and laws of the organisation.
 Internal audit also aids in better control of the organisational functions.
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The external audit, similarly, are to be adopted during the entry of new owners or
partners. It is also conducted to assure the stakeholders and investors to show the
transparency of the business. A complete financial statement is provided which will
help them analyse the monetary stability of the business. It also works in accordance
with the internal audit segment that would help the company to work seamlessly.
3. Create a SWOT analysis based on your chosen situation. You must complete it
with a minimum of three main elements in each category.
Strength Weakness Opportunity Threat
1. The
company
has a 75%
turnover
and hosts
various
important
events.
2. The
company
has a
magnificent
view of the
Gold Coast
and
Hinterland
that comes
as an
advantage
for
1. There are
minimum
referrals
from past
clients.
2. The
company
has not yet
expanded
its business
to other
events like
celebration
of birthdays
and
anniversarie
s.
3. The huge
client base
that I am
1. The
competitors
do not have
such
spectacular
location
which this
company
has.
2. The
company
has good
relation with
the
competitors
that gives it
the ability to
explore
market
opportunitie
1. The
competitors
of the
company
are doing
good as
they have
expanded
their
business in
birthday
and
anniversary
celebration.
2. The growth
of the
company
has become
stagnant.
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attracting
customers.
3. The
marketing
aspect of
the
company is
strong as it
has
campaignin
g posters,
leaflets and
brochures
all over the
city.
handling
has not
been
explored
much.
s.
3. A number of
contacts
starting
from DJ,
photograph
ers etc. are
available
who can be
called upon
during
client’s
requirement
s.
3. The
company
needs to
expand its
marketing
strategy and
focus
beyond
social media
to draw
customers.
4. Based on the above SWOT results, which of the 6 (six) types of marketing audit
would be useful for this audit? You must choose a minimum of 2 & provide your
reasoning for your choices.
Marketing strategy audit and marketing system audit are the two types of audit that
company needs in respect to the above SWOT analysis.
Marketing Strategy Audit – The Company needs to focus on the marketing
strategies as it clearly lags behind some of the significant analysis that can give them
a better understanding of the objectives. It would help it to focus on certain aspects
like expansion of the business, the reason for less referrals from past clients.
Marketing System Audit – This system of audit will help the company to collect and
analyse data. Since the company is not facing much growth and is unable to keep up
with the inflation, the system audit would help it in analysing such situations. The
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control system of the company will also be taken into account that would help it to
have a systematic operation of the company.
5. Prepare a brief executive style report for the new owner, based on the SWOT
analysis, with your recommendations on improving current results.
Executive Summary The SWOT analysis of the company has
been conducted and the various
aspects that can affect the operations
of the company has been discussed.
Introduction The report provides the detailed
analysis of the company’s strength,
weakness, opportunity and threat of the
company. It explores various aspects
that the company needs to work upon.
The report will also provide an insight
into the company that would help the
owner to understand the details of the
company.
Discussion The event management company has
certain areas of strengths and
weaknesses that needs to be
addressed. It has an unusual location
that gives it an edge over other
competitors. It also has a marketing
campaign that allows it to be noticed in
all parts of the city. The weaknesses of
the company accounts to the low
growth of the company. It has restricted
its operation to weddings only which
also needs expansion.
Conclusion The company has huge potentiality
considering the magnificent location.
Moreover, it has friendly relation with
the competitors that gives it the
opportunity to explore new avenues.
Recommendation The company needs to have a strong
audit system that should focus on
marketing strategy as well as the
system audit. It would keep the
company in a better position and help it
to foster.
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References
Abbott, L.J., Daugherty, B., Parker, S. and Peters, G.F., 2016. Internal audit quality and
financial reporting quality: The joint importance of independence and
competence. Journal of Accounting Research, 54(1), pp.3-40.
Burt, I., 2016. An understanding of the differences between internal and external
auditors in obtaining information about internal control weaknesses. Journal of
management accounting research, 28(3), pp.83-99.
Mullakhmetov, K.S., Sadriev, R.D., Gabidinova, G.S. and Akhmetshin, E.M., 2016.
Control in marketing-based management. Academy of Marketing Studies
Journal, 20(2), pp.13-19.
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Further
Comments
Assessor Declaration: By signing below, I declare that all of the above activities have been
satisfactorily completed and that I have verbally authenticated these if required.
Assessor Name
Assessor
Signature:
Date
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TASK 4: WORKPLACE PROJECT
Student Instructions
To complete this part of the assessment you will need to consider your own workplace.
If you are unable to use your workplace for any reason you should advise your
Assessor. In such instances, instead of your own workplace you may select a business
that you are familiar with (perhaps a former workplace or an organisation you have
been a customer of). Before commencing the project discuss your choice of
organisation with your Assessor.
For this project you are going to prepare a report detailing what would be required to
complete a comprehensive marketing audit for your chosen organisation – in effect a
scope for a real life marketing audit. When you have finished, attach your report to
this completed workbook.
Be sure to review the material presented in this Unit and activities you have previously
completed. Reflect on what you have learned from this & your own resultant, learning
– as well as your own research and your previous case study within this Unit.
Your project report should, as a minimum, respond to each of the issues presented
below and is to be presented in a report format as a comprehensive market audit
scope report which reflects on completed studies, research, modelling, concepts and
problem solving approaches.
You may find it useful to examine the market trends and developments (especially as
they relate to specific products/services) of other organisations to get an idea on
layout & content approaches used by others.
Ensure that your completed project is (i) grammatically correct (ii) error-free (iii) in
simple English & has separate headings and paragraphs for each new content/topic for
discussion. Include references to relevant legislation (where appropriate), which must
be defined and explained.
Attach any models, tools, resources which could be used to improve the presented
report. Your document should comprise of:
(i) Introduction (an overview of the situation, what you are trying to achieve and your
intended outcomes).
(ii) Body (or most significant part of the presentation, with key details). Please do not
use the word “body” as a heading. This is the largest part of your submission.
Use headings that are relevant, include templates, tools and charts where
appropriate. For each heading, discuss and demonstrate your knowledge and
understanding of this unit. Refer to risks, costs (if relevant), legislation, models, or
templates or resources that you are aware of.
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(iii) Conclusion(s) and recommendation(s). Use an appropriate heading and then state
actions (if required) which could be taken to ensure correct completion and
finalisation.
The document is to contain a minimum of 1,500 words in total. Any
attachments should not be included in the word count.
Project Issues (all relating to your chosen organistion)
 SITUATION ANALYSIS - What is going on?
 MARKET GOALS - What do you want to achieve?
 MARKETING STRATEGY - How can you get there?
 BUDGET & PLANS - What will it cost? What is the timing?
 METRICS & ADJUST - How are you doing? What needs to change?
 Consider if you should perform market research and report.
 Evaluate your customer’s problem.
 Detail your solution to the customer's problem.
 Determine how well your product currently solves your customer's problem.
 What areas for improvement are there in the above?
 Identify your competitive advantage. Why did you select this?
 Examine how you currently market your product.
 Use forecasting techniques on information available to cover the next 18 months
of organisation activity for your project’s chosen products/services
 Prepare, plot and interpret data, where appropriate, for visual presentation
 Ensure that your report meets your chosen organisation’s requirements in terms of
content, format, level of detail and scheduling
Introduction
The report throws light on the different kinds of marketing audit related aspects
of Marks and Spencers which will be suitable for the growth of the company in a
suitable manner. It can be seen that there are different internal and external
environment analysis which will be beneficial for the growth of the company in a
proper manner and it will be suitable for enhancing the growth of the company
effectively.
Situation Analysis
Internal Environment Analysis
With the help of the SWOT analysis, the different strengths, weaknesses,
opportunities and threats have been identified which will be beneficial in improving
the growth prospects of the company appropriately.
Strengths- The leadership of the company is effective and it will be beneficial in
improving the growth of the company appropriately. The highly effective team
members of the company can make the entire aspect effective which will be suitable
for managing the efficiency (Chernev 2018).
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Weaknesses- there is decline in the sales of the company due to which the company
had affected their growth prospects and it affected their efficiency in managing the
different operations. There are high pricing strategies which is not affordable by the
different individuals.
Opportunities- The online shopping is the most suitable approach which has been
managed by the company and it has been effective for the growth of the company.
The brand equity can be considered to be the most effective aspect which needs to be
managed by the company for gaining sales (Moutinho and Vargas-Sanchez 2018).
Threats- there are huge level of competitors present in the market which has affected
their growth prospects and it affected their morale in managing the different aspects.
External Environment Analysis
Political
There is political stability
which has enhanced the
growth of the firms
suitably
The Brexit has created
significant impact on the
growth of the firm
negatively (Morschett,
Schramm-Klein and Zentes 2015)
The changing government
taxation policy has
created huge impact on
the growth of the firms
Economic
There is conflict present
among the small retailers
which has affected the
growth prospects of the
company
There is rise in the
different kinds of currency
which created growth
impacts on the country
(Aghazadeh, 2015)
Social
There are different
initiatives which can be
incorporated by the
company as it will be
suitable for improving the
business operations
(Andaleeb and Hasan 2016)
The received flack as the
non-trendy store and it
can affect the growth
prospects of the company
Technological
There is huge
technological
advancements which has
helped the company in
growth
Environmental
There are different
environmental laws and
regulations which needs to
be maintained and it will
be beneficial in growth of
the company
Legal
There is financial dispute
with the different kinds of
legal norms which can
affect the growth of the
firm
Competitive Advantage of Marks and Spencer
The company will be providing the different customers by providing them with
the different products and services at a reasonable rate, Marks and Spencers need to
ascertain the fact that there should be inclusion of the different kinds of growth
prospects such as inclusion of the different discounts which will be beneficial in
managing effectiveness.
Recommendations
From the above, it can be recommended that there are different kinds of
recommendations which can be provided which will be suitable for managing the
different aspects suitably. Firstly, there can be introduction of the discounts which can
be attracting more customers which will be beneficial in improving the growth
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prospects of the company. There can be introduction of the different kinds of
reduction in the prices which will be making it affordable for improving the overall
aspects of the company.
Conclusion
Therefore, it can be concluded that there are different kinds of factors such as
external and internal environmental factors which needs to be managed in an efficient
manner which should be provided for managing effectiveness. The competitive
advantage provided by M&S can be helpful for them in incorporating huge revenues.
References
Aghazadeh, H., 2015. Strategic marketing management: Achieving superior business performance through
intelligent marketing strategy. Procedia-Social and Behavioral Sciences, 207, pp.125-134.
Andaleeb, S.S. and Hasan, K. eds., 2016. Strategic marketing management in Asia: case studies and
lessons across industries. Emerald Group Publishing Limited.
Chernev, A., 2018. Strategic marketing management. Cerebellum Press.
Morschett, D., Schramm-Klein, H. and Zentes, J., 2015. Strategic international management (pp. 978-
3658078836). Springer.
Moutinho, L. and Vargas-Sanchez, A. eds., 2018. Strategic Management in Tourism, CABI Tourism Texts.
Cabi.
Further
Comments
Assessor Declaration: By signing below, I declare that all of the above activities have been
satisfactorily completed and that I have verbally authenticated these if required.
Assessor Name
Assessor
Signature:
Date
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