Detailed Marketing Audit Report: Esprit Holding Performance

This report presents a marketing audit of Esprit Holding, analyzing its current marketing strategy. The audit begins by defining objectives and evaluating the market, focusing on the Singapore market and external factors like the economy and technology. It identifies the target audience, their needs, and conducts a SWOT analysis to assess strengths, weaknesses, opportunities, and threats. The report then reviews the marketing mix, including product, price, place, and promotion strategies. Finally, it creates an actionable list and prioritizes recommendations, suggesting improvements in areas such as sportswear and marketing research, highlighting the company's growth potential through kid's wear and the expansion of its customer base. The audit aims to provide insights for future growth and enhanced productivity.

Template: Marketing Audit
A marketing audit is periodic review of a business’ marketing strategy which is designed to
help identify whether the existing strategy requires changing and where the direction of the
company needs to go in the future. It is a useful tool which can help businesses to increase
the return on its marketing budget if successful changes are made.
Date:
Author:
Define your objectives
The objective of the audit is to identify the quality of products and services provided
by Esprit Holding and the manner in which the company can grow in the markets of
Singapore and outside.
Evaluate the market
1. After considering the amount of growth that exists in the market it can be safe to say that
Esprit Holding can expect a growth of 5% increase in the market
2. The external factors particularly the economy of Singapore can help Esprit Holding to
gain recognition. This is mainly because of the fact that the country has a rich economy
and it is necessary for the marketing managers to exploit such conditions to increase its
productivity. The technological factor can play an essential role in the analysis of the
auditing. This is because technology is considered as the soul for most organisations and
Singapore is one of the countries that are technically advanced.
3. Esprit Holding competes in the marketing segments that include the geographic,
demographic, behavioural and psychographic factor. These factors are important for the
growth of the company and the target market of the company includes people of all ages.
4. During the next financial period, the market segments is expected to remain same and the
expected growth in this period may be forecasted to about 6% increase in sales.
Define your target audience and identify their needs
1. The current customers of Esprit Holding includes women and men of all ages
2. The need of the customers include good quality products that are fashionable and signify
the culture that the Singapore people follow
3. The target buyers of the products are mostly men and women, as fashionable and sports
clothes are manufactured by the company. Recently the target has been children as well
4. Currently, the people need to be gain quality and stylish products at a reasonable price.
Conduct a SWOT analysis
1.
Strength Weakness
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Strong brand position
Balanced retail contribution
Good employee strength
Limited European presence
Intense competition among employees
Opportunities
Engage the growing population in
emerging countries
Growth in casual wear market
Low manufacturing and production cost
Threats
Intense competition from other brands
Product substitution
Cheap imitations in the market
2. The strengths and opportunities can be increased by proper monitoring of the employees
and conducting an analysis of the external factors that exist in the market. The growth in the
international markets of Europe and the low cost of production can help Esprit Holding gain a
competitive advantage.
3.
Goal Measures taken Responsible person Timeline
To expand and grow
in Europe
Engage in proper
market research and
motivate employees
Managers Within 3 months
Gather competitive intelligence
1. The main competitor of Esprit Holding is Luis Phillipe. Customers may want to
choose this brand over Esprit Holding as it is a reputed brand and provide the best
quality items not only in clothes but also in terms of bags for men and women.
Review the marketing mix
1. Product
Esprit Holding is a public company that manufactures retail clothing. The products of the
company comprise of men and women accessories along with footwear and cosmetics. This
helps the company to provide for best quality of clothes to every gender and type of people in
a society.
2. Price
The price of the products is always important for an organisation. People want the best
quality of products with the minimum price. In the case of Esprit Holding, the prices of the
product are pocket-friendly for the customers.
3. Place
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The place of an organisation is important so that it can be easy for the customers to gain
access to the organisation. Esprit Holding consists of a physical store that needs to be of
convenience to the customers.
4. Promotion
The promotion of the products of Esprit Holding needs to be based on the revenue of
the company. Esprit Holding need to analyse the most effective promotional method to
ensure that the organisation gain success in the business market. In this case, Esprit Holding
can use social media for the promotion of the products.
Create an actionable list and prioritise
Thus, it can be said that since the last marketing audit, Esprit Holding have managed
to gain a new customer base. The introduction of kids’ wearable can help Esprit Holding to
expand its growth and increase productivity. However, the company need to improve the
sportswear department so that more men can be attracted to purchase from the company. At
the same time actions such as proper marketing research and creation of assets in the form of
employees need to be managed by the company.
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