3. What is a Marketing Audit?
A marketing audit is a detailed and systematic analysis of
a company's problem areas in terms of market
penetration. The analysis is done independently by the
company itself. The analysis analyses the market
environment, the marketing strategies, and company
objectives to better see where the company may be falling
4. The salient features or characteristics
of marketing audit are as follows:
Marketing audit is a comprehensive study of all marketing activities.
It is a systematic-process that follows a step-by- step procedure.
It is a periodic activity and must be conducted regularly.
It is conducted by an independent person who is not from company.
5. It is a critical review of marketing activities of company.
It is an evaluation of marketing activities of company.
It finds out marketing opportunities and weaknesses of company.
It is a preventative and curative marketing medicine.
6. Scope, Areas or Types of
There are no fixed guidelines regarding the scope, areas
or types of marketing audit. In other words, the scope of
marketing audit is not fixed. It changes from company to
company. Each company can make its own marketing
audit plan. However, the scope of marketing audit must
include the following areas or types:
7. The six important types of
marketing audit are:
Marketing Environment Audit.
Marketing Strategy Audit
Marketing Organization Audit.
Marketing Systems Audit.
Marketing Productivity Audit.
Marketing Function Audit.
8. How to conduct a marketing
The marketing audit is a fundamental part of the
marketing planning process. It is conducted not only at
the beginning of the process, but also at a series of points
during the implementation of the plan. The marketing
audit considers both internal and external influences on
marketing planning, as well as a review of the plan itself.
9. Lets consider the marketing audit
under three key headings:
The Internal Marketing Environment.
The External Marketing Environment.
A Review of Our Current Marketing Plan.
There are a number of tools and audits that can be used, for example SWOT analysis for the
internal environment, as well as the external environment. Other examples include PEST and Five
Forces Analyses, which focus solely on the external environment.
In many ways the marketing audit clarifies opportunities and threats, and allows the marketing
manager to make alterations to the plan if necessary.
11. 2. The External Marketing
As a market orientated organisation, we must start by asking - What is the nature of
our 'customer?' Such as:
Their needs and how we satisfy them
Their buyer decision process and consumer behaviour.
Their perception of our brand, and loyalty to it.
The nature of seamentation, targeting and positioning in our markets
What customers 'value' and how we provide that 'value?.
What is the nature of competition in our target markets?
12. Our competitors' level of profitability.
The relative strengths and weaknesses of competition.
The marketing plans and strategies of our competition
What is the cultural nature of the environment(s)?
Beliefs and religions
The standards and average levels of education.