The Marketing Audit

Features of audits
1. Should cover all main marketing activities on an organisation
2. Systematic investigation of the organisations macro and micro environment
  1. It should reveal aspects where improvements are needed
  2. It should lead to appropriate action plans
3. Should cover the marketing environment
4. Should be carried out by a separate auditing function
  1. To avoid bias
Internal and external environment
1. Macro
  1. Political
  2. Economic
  3. Social and Cultural
  4. Technological
  5. Legal
  6. Environmental
  7. Market Features
    1. Market size and trends
    2. Competitive conditions
      1. Porters 5 forces
    3. Trends in consumer behaviour
    4. Changes in distribution channels
    5. The supply market
2. Micro
  1. Full internal audit
    1. Sales and market share trends
    2. The marketing mix
    3. Financial
      1. Planning Systems
      2. Marketing within the company structure
    4. Managerial
      1. Corporate image
      2. Response to change
      3. Flexibility
      4. Ability to attract and retain creative staff
      5. Response to competitiion
      6. Awareness of PLC's
      7. Investment in R&D
      8. Market entry barriers
    5. Competitive
      1. Product strengths
      2. Customer views
      3. Market share
      4. Willingness to test market opportunities
      5. Selling and distribtuion costs
    6. Financial factors
      1. Access to capital
      2. Ease of market exit
      3. Liquidity
      4. Ability to compete on prices
      5. Cost stability
      6. Ability to cope with demand cycles
    7. Technical
      1. Skills
      2. Strengths of patents and processes
      3. Value added to product
      4. Labour and capital intensities
      5. Economies of scale
      6. Are the plans up to date?
      7. Use of new technology
Appraising the processes and techniques of auditing the marketing environments
1. Comprehensive
2. Systematic
3. Independent
4. Periodic
Organisational SWOT- performing a successful analysis
1. 1. Start by listing everything that falls under each heading
2. 2. In an internal SWOT it may be worth doing several SWOTS per department
3. 3. Use phrases such as "which means"
4. 4. Use it for all aspects of the business
Organisational competencies and capabilities
1. Managerial Capability
2. Financial capability
3. Operational capability
4. Distribution capability
5. Human resource capability
6. Intangible factors
  1. Such as the brand
Organisation resource vs an organisations capacity to deliver- Porters four primary activites
1. Inbound logistics
2. Operations
3. Outbound logistics
4. Marketing and sales
5. These are linked to the support activities
  1. The procurement of various inputs
  2. Technological developments
  3. Human resource management
  4. The organisations infrastructure
Competitor Analysis
1. What are the principal economic characteristics of the industry?
2. What factors are driving changes in the industry?
3. What competitive forces are at work?
  1. How strong are these forces?
4. Which companies are the strongest/weakest?
5. Who will likely make which competitive moves next?
6. What key factors will determine competitive success and failure?
7. How attractive is the industry?
8. Porters five forces

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The Marketing Audit

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