The 'Marketing audit is a key part of the marketing planning process. It is conducted not only at the beginning of the process, but also in a number of points during the execution of the plan. The marketing audit considers both internal and external influences on marketing planning, as well as for a review of the plan itself.
The external marketing environment.
As a market-oriented organization, we must start by asking - What is the nature of our client?' For example:
Their needs and how it satisfies them.
Their buyer decision making and consumer behavior.
Their perception of our brand, and loyalty to it.
The nature of segmentation, targeting and positioning in our markets.
What customers infer for value and how they want value ?
What is the competition in our markets?
the level of our competitors in terms of profitability.
Their number / concentration.
The strengths and weaknesses of the competition.
The marketing plans and strategies of competitors
What is the cultural contribution of the environment?
Beliefs and religions.
Standards and average levels of education.
The evolving lifestyles of our target consumers.
The nature of consumerism in our target markets.
What is the demographics of our consumers? Come, the average age, population levels, and technology what role it plays?
The level of adoption of mobile technologies and the Internet.
The way goods are manufactured.
Marketing communications, uses of technology and media.
What is the economic condition of our markets?
Levels of average disposable income.
Fiscal policy in the reference market.
Economic indicators such as inflation levels, interest rates, exchange rates and unemployment.
It's the political and legal landscape is changing in some way?
Laws, copyrights and patents.
The adjustment layers, such as dues or tariffs.
labor laws / work such as minimum wage legislation.
A review of our ongoing marketing plan
What are our current marketing goals?
What are our current marketing strategies ?
How can we apply the marketing mix ?
Our marketing process is effectively controlled?
We are making our marketing budget?
We are achieving our SMART goals ?
Our marketing teams are effectively implementing the marketing plan?
Levels of staffing.
Staff training and development.
Experience and learning.
What is our market share? (Total sales / trends / sales by product or customer or channel) We are achieving financial goals? (Profits and margins / liquidity and cash flow / debt: equity / using financial index analysis)
There are a number of tools and controls 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 analysis , which focus exclusively on the external environment.
In many ways, the marketing audit clarifies opportunities and threats, and allows the marketing manager to make changes to the program, if necessary.
This activity considers the basics of marketing verification, and introduces a Marketing Audit Checklist. The checklist was designed to answer the question, what is the current marketing situation? It allows you to consider the marketing audit in three main categories:
The internal marketing environment.
The external marketing environment.
A review of our current marketing plan.
Internal Marketing, Environment.
What resources do we have at hand? (namely the five 'M):
MEN (Work / Work).
MATERIALS (factors of production).
How our marketing team is organized?
How efficient is our marketing team?
How effective is our marketing team?
How does our marketing team interface with other organizations and internal functions?
How effective are we at Customer Relationship Management (CRM) ?
What is the state of our marketing planning process?
It is our up-to-date and accurate marketing planning information?
What is the current state of new product development? (Product)
How profitable our product portfolio is? (Product)
We are evaluating it right? (Price)
How effective and efficient is the distribution? (Place)
We are getting our marketing communications right? (Promotion)
We have the right people to deal with our customers? (People)
How effective are our customers in the face of processes? (Process)