Purpose of the marketing audit
Each organization undergoes a number of marketing audits each year. This activity is more of examining and appraising than analyzing records as in financial auditing (Gök, & Hacioglu, 2010). This particular audit examines the management and planning of marketing in the company. It begs the questions what strategies have worked and what has failed. It gives a picture of the situation and examines each element of every marketing situation and activity in the company. The auditors access the market activities; triumphs that helped achieve the marketing goal. The actual purpose of the activity is determining marketing management and organization performance and their influence on marketing performance.
The purpose of the audit is not to criticize the activity but to recognize any other activities that would be more effective (Sharma, 2011). Unlike the financial auditing where external personnel carry out the auditing, the marketing team carries out this marketing audit, and on other occasions, they may invite one or two external consultants (Pimenta da Gama, 2011). The auditing group recommends how to improve existing strategies and incorporate fresh ideas.
Reviewing and reorganization of the marketing mix is another activity of the marketing audit. Marketing mix is a very important and famous marketing terminology. It is the strategic part of a marketing plan. In truth, this is the core of the whole organization and is very serious. It is comprised of the charge, merchandise, and campaign (Blythe, 2009). The individuals involved and process undergo analysis. In conclusion, it is a combination of all elements of the marketing strategy. In this process, the greatest advice is that the price should not be the focus but the quality and the brand image.
Role of the audit on the marketing strategy
Marketing audit and its analysis presents an opportunity to review the activities that are currently taking place and if they are being done right (Devereaux, 2010). Centered on this review, it is then possible to identify the additions required in the marketing strategy and the steps necessary. Based on this report, the organization is then able to review the marketing department as well as plan the budget for the department based on the recommendations made (Woodside, & Sakai, 2008). A review if more training, inspiration, management, or appraisal is required is determined.
The problems in the department if present are review and solved. This is vital for the marketing process since the whole organization is quite important to the marketing strategy and the process (Lancaster, & Massingham, 2011). This is true since if the department has a glitch, the whole process will be unproductive and this will heavily affect the profits expected. This activity helps in increasing the morale of the marketing department which goes a long way in the boosting the quality of the work in the department (Patterson, 2008). Since the audit also identifies competitors and possible customers, the framework of the strategy is reviewable.
Role of the audit to the new marketing plan
The audit goes a long way in influencing the new marketing plan. This is because, not only does the marketing audit highlight the strengths of the previous one, but also the mistakes that hindered greater success in the projects undertaken (McDonald, & Wilson, 2011). With this knowledge, the marketing department and companies management know what to look out for in terms of trouble shooting and even easier to avoid problems if they were already made in the past.
Whether it is a business or even a non-profit organization, every firm should always have marketing audits every occasionally. This goes a long way in increasing revenues as well as donations, which is the core objectives of the organizations (Westwood, 2011). The brand image of the organization is improved and the reputation is build based on the efforts made in this department (Blythe, 2009). Every organization should aim at making marketing plans that would steer a business forward and build a good public review.
In conclusion, a marketing audit is essential since it provides an allusion throughout the events, which is vital to a marketing plan. It presents an opportunity to focus on the productivity of managers and other employees. In addition to all that, marketing plans are vital in the growth of a company since they are an investment and investment result to profits (Sharma, 2011). With this knowledge, managers and employees should review the importance of marketing audits since they are just as important as other business departments if not more.
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