Below is the the final breakdown of the pyramid with highlights of essential notions in each type of brand attribute:
It may have abundant resources, with a management team composed of brilliant and innovative minds, and teams of hardworking employees diligently and passionately performing their tasks.
However, the business will never be able to grow, and succeed in achieving its organizational goals if it does not have a marketing strategy in place. The growth of a business is closely linked to how its image is developed and presented to the market, and how it is able to establish a presence in that market.
Marketing Audit With Conclusion. Explanation of what a marketing audit is: The purpose of a marketing audit is to review and appraise existing marketing activities and to look at the way the marketing is planned and managed. Marketing Audit For Coca Cola Enterprises. Print Reference this. Published: 23rd March, & to derive a strategic assessment of the same to finalize a conclusion & a set of recommendations which can be implemented by Coke for a better market share. supplies the concentrates & is largely responsible for consumer marketing. The most. Marketing Audit Template // The Marketing Network is a one stop marketing & management consultancy.// Every existing business should undergo an internal or external Marketing Audit at least every 3 or 4 years. The Marketing audit is a review of its past marketing strategies. A Marketing Audit will identify whether the.
To accomplish that, there is a need to work on creating and increasing its brand awarenesswhich inevitably leads to increased profitability and accelerated growth.
In the process, this will also widen the reach of the business organization and aid in strengthening the bonds established between the business and its clients or customers.
The million dollar question is: Businesses devote a lot of time and resources in crafting a strategy that will help propel the organization toward its goals. Several factors are considered, and more than one or two processes are undergone.
One of these activities or processes is a marketing audit. Through a marketing audit, data on the internal and external environment of a business is gathered and analyzed in a structured and systematic manner, and the results thereof are used to aid the formulation of a marketing strategy.
In other words, a business cannot come up with a marketing strategy unless it has performed a marketing audit. The marketing audit may be performed by members of the organization, aided by members of the marketing team, or management may go with the option of getting help from external marketing auditors or consultants.
Since it is considered to be a prerequisite of a marketing plan, marketing audit is to be performed at the beginning, before the planning process starts.
However, it does not stop there. Marketing audit is actually conducted frequently and almost regularly, which means that it is also being performed alongside the implementation of the plans.
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.
Refer to the findings and recommendations of the marketing audit. A 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. There are seven identified types of marketing audit, and they fall under three components or audit key headings: External Environment Macro-environment audit, which takes a look at the external factors that affect the marketing performance of the company.
Demographic factors, where you will take into account the demography of the consumers in the market, such as their age, gender, employment status, and others. Economic factors, which includes assessment of taxation policies and a look at the prevailing economic indicators, such as interest rates and inflation levels.
Cultural factors, which may also affect the marketing performance of the company, and they include the religions and beliefs of consumers, the lifestyle that they practice and how consumerism figures in that lifestyle. Environmental factors, which may include technologies and systems that are used and in place, and have a significant impact on marketing in general.
Examples are the evolution of internet, the adoption of mobile technologies, and the development of new marketing and information systems.
Political factors, which often have a tendency to affect the economy and overall environment of the markets, are also considered. Issues such as property laws, tariff regulations, and other labor legislation must be looked into.
Political unrest and lack of stability in leadership in government are also taken into account.Marketing Audit Definition – “A marketing audit is a comprehensive, systematic, independent & periodic examination of a company’s – or business unit’s – marketing environment, objectives, strategies and activities with a view to determining problem areas and opportunities and recommending a plan of action to improve the company’s.
Marketing Audit conducted for SONY which includes its Situational Analysis, Target Market Analysis, SWOT Analysis, all the critical issues faced by the company and recomendations and solutions provided for improvement in its operations. Know what is digital marketing audit, how to conduct digital audits, components of digital marketing audit and advantages of digital audit.
Attend FREE Webinar on Digital Marketing for Career & Business Growth Register Now. Courses. Conclusion. Finally, on the concluding note. While a marketing audit can and typically does contain dozens of pages, slides, charts, recommendations and visuals, it all starts with the five essential questions: 1.
Does the marketing plan match up with the overall goals of the business? Marketing Audit For Coca Cola Enterprises. Print Reference this. Disclaimer: & to derive a strategic assessment of the same to finalize a conclusion & a set of recommendations which can be implemented by Coke for a better market share.
In laying out an appropriate marketing mix, Coke must consider product, distribution, promotion. Conclusion For Marketing. Recommendations & Conclusions We had looked at all the characteristic of the business environment together with the market segment of Indonesia.
We studied the marketing mix such as product, pricing, placement and promotion. These are the recommendations and conclusions that we have conclude in our proposal.
Java is the most populous and the most developed island.