MARKETING AUDIT

Marketing Audit



Marketing Audit

Introduction

Marketing audit is similar to the financial audit of the company or their business. Marketing audit concerned with the appraisal and review of the current marketing activities. Through marketing audit, a company has an opportunity to assess and reviews the entire marketing activity, facilitating company to review their past and present performances. It also provides the opportunity to appraise the future courses of action. It has been termed as an efficient tool for evaluating the proficiency of a marketing strategy, examining the objectives, strategies and policies of the marketing department of the company likewise as the mode and means applied in achieving these aims and goals. Marketing audit is essentially required due to the changing business environment. This audit is not only done in the start of the planning process but also with the execution stage. This offers a ground for the possible future evaluation. There are three basic things on which marketing audit focus.

Analysis of the environment, both external and internal

Analysis of key business and marketing variables.

Analysis of the Business current, future Planning and Organization of the company

In this paper, we will discuss the marketing audit of the Commercial Development Services which is part of the business in Coventry University. Coventry University has also maintained their long term relationship with the industry and constantly promoted industry and academia to cooperate and work together for mutual advantages. They consist of the large number of strategic alliances throughout the sectors and industries. The purpose of this university is to create opportunities for students to have better quality education and raise their visibility for the delivering better quality services to students. Commercial Development Services is a service which provides business support to the small and medium projects along with the managing projects for the other bodies of public sectors.

Moreover, they offer consultancy services such as advices, marketing, delivery and design of workshop, events and training management. In this paper, we will see the current and future marketing evaluation which will base on external marketing environment, internal marketing environment and assessment on the existing marketing plan along with the SWOT analyses in order to support these three basic headings (wwwm.coventry.ac.uk).

Discussion

Marketing Plan

The marketing audit features are as important an equally applicable to both existing businesses and companies, and existing types of business and new projects. It does not matter whether it is large or small business. As in the case of preparing a business plan of international standard, the methodological foundations of the marketing audit for the giants of former Soviet industries (such as ZIL and AZLK) and a project related to purchase and installation of two new machines in the corner of an old barn, proudly referred to as the shop number 5 will be exactly the same. When the auditor comes to the company, the first thing he recognizes is the real situation of the company (Rothe, Harvey, et al., 1997, Pp. 1).

For this, he will need the basic information of the company, industry, and ...