Marketing Audit in library and Information Science

1. MARKETING AUDIT
Group 6
Danish Saeed 07
M Ali 24
Haseeb Akbar 37

2.  Outline
1. Introduction
2. Steps of Marketing Audit
3. Characteristics of Marketing Audit
4. Types of Marketing Audit
5. Tools and techniques of Marketing Audit
6. Importance of Marketing Audit
7. Conclusion

3. 1- Introduction
Marketing audit?
A marketing audit is a comprehensive examination and analysis of your marketing activities,
goals and objectives.
 By implementing an audit, you’re able to take a look at the way your marketing efforts are
planned and managed,how they are performing relative to the goals of your original
marketing plan.
 A marketing audit is essentially a great way to assess your marketing plan and ask
yourself and your department what's working and what's not. Then, you can make
adjustments and corrections as necessary.
 A market audit is useful for getting back in touch with your brand, products and services
and re-focusing your marketing efforts.
 It can also be used to remind you of your initial goals and objectives and fine-tune your
current efforts to be certain they align with those original objectives.

4. 2- Steps
How do you do a marketing audit?
• Identify your marketing channels/strategies/activities
• Identify your goals and objectives
• Gather data
• Make a comparison
• Identify issues and gaps
• Create an action plan
• Repeat

5. 3- Characteristics of Marketing Audit
 The audit must be comprehensive, encompassing all the marketing issues that
the company is dealing with.
The audit must be systematic, following a sequence of steps in collecting and
analyzing data on the company’s external and internal marketing environment and
the marketing activities currently being implemented.
 The results of the analysis will eventually lead to the crafting of an action
plan aimed at improving the markets and the company’s position in it.
 The audit must be independent, in the sense that the auditors are able to
demonstrate an acceptable level of independence from the marketing
departmentan and This is to ensure their objectivity .
 The audit must be conducted on a periodic basis, making it a regular business
activity, instead of a stop-gap measure to deal with a crisis or troubleshoot a
problem only when it arises.

7. 4 – Types of Marketing Audit
1- External Environment
• Macro-environment audit. This type of audit examines the external factors that
might affect the marketing performance of the company, such as demographic
factors, economic factors, cultural factors, environmental factors, and political
factors. For the most part, these are factors that influence the consumer market:
their beliefs, hobbies, or any social trends that could affect the company’s
marketing performance.
• Task environment audit. This type of audit also focuses on factors outside of the
company, but still closely associated with marketing activities and operations.
While it does take some factors of the consumer market into account, it is slightly
different than a macro-environment audit. A task environment audit will assess the
size of the industry the company belongs to, identify competitors, and examine the
company’s relationship with distributors and retailers.

8. 2- Internal Environment
• Marketing organization audit.
• This audit is performed by evaluating the staff or the labor force of the
company at their various levels of hierarchy.
• Marketing function audit.
• This type of audit will evaluate the core competencies of the company. It will
examine the company’s product, pricing, distribution, marketing
communication, and the sales force. It will also compare price points for the
company’s product with those of the competition.
• Marketing systems audit.
• This type of audit will look at the marketing systems currently in use, such as
the marketing information system, marketing control system, and even a new
product development system.
.

9. 3-Marketing Strategy:
Marketing strategy audit.
This type of audit will revisit the company’s mission and vision, and its goals and objectives.
It will determine if the current marketing strategies being adopted are proper and
appropriate with respect to the resources of the company.
Marketing productivity audit.
This is where the auditors will look at the effectiveness of the marketing strategies currently
in use. The most common things they will look at are cost-effectiveness and profitability

10. 5- Tools and techniques of Marketing Audit
Market makes use of strategic planning and market audit techniques.
For market research, the SWOT analysis (strength, weakness, opportunities,
and threats) of the organization and PEST analysis (political, economic,
sociological and technical trends) are conducted to explore both
organizations internal and external situations.

11. SWOT Analysis
The SWOT analysis provides a framework for library staff to assess these
variables affecting the performance of the organization. Regarding
libraries, strengths might include staff, collection, services and physical
location, but these may just as likely to be weakness in some organization.
Rowley ‘point out that once weakness is once defined, steps can be taken
to remedy it, through staff training or whatever may be required, so that
potentially it could become strength’.
PEST Analysis
The analysis of external, wider scenario of an organization is also desired
for appropriate planning. Therefore, the audit of political, economic,
sociological and technical trends related to institutions’ products and
services are made. Various survey methodologies can be used to gain insight
about library customers. Some data may be collected passively (i.e.
suggestion boxes, e-mail comments) and some actively (i.e. surveys and
focus groups).

12. 6- Importance of marketing audit
 A marketing audit provides management an in-depth look and evaluation at the marketing of
a business, paying particular attention at how its marketing activities are planned,
implemented and managed.
 A marketing audit pinpoints the marketing efforts and practices that are working perfectly,
those that are not, and those that need more work.
 This leads to the identification of marketing weaknesses and strengths of the company, as well
as its marketing threats and opportunities. In fact, throughout the course of the audit,
management may discover inefficiencies that it never knew existed.
 A marketing audit’s systematic and structured approach makes the whole process of
developing a marketing strategy easier. You don’t know where to start when making a
marketing plan? Refer to the findings and recommendations of the marketing audit.

13. Conclusion
marketing audit enables the company to make corrections, or catch errors
or mistakes before they can cause serious damage. A marketing activity is
being implemented poorly? Then the company can apply the necessary
changes and adjustments.
Ultimately, performance of a marketing audit is in aid of the greater
function of top management, which is decision-making, specifically on
matters regarding marketing. Any major decisions that will be made with
respect to the company’s marketing activities will be based on the results of
the audit.