Marketing Audit: 5 Critical Components

Marketing Audit: 5 Critical Components

• Customer, distributor, vendor, and intermediary satisfaction based on research among key target groups.
• The performance of advertising, promotion, sales force, and marketing research programs in terms of ROI. 
• Marketing knowledge, attitudes, and satisfaction of all executives involved in the marketing function. 
• Whether the marketing plan achieved its stated financial and non-financial goals and objectives. 
• The current value of brand and customer equity for each brand in the product portfolio. 

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What Is A Marketing Audit?

What Is A Marketing Audit?

A marketing audit is a comprehensive, systematic,independent and periodic evaluation of a company's marketing assets. It is a effective tool in reviewing the competence of a marketing strategy, analyzing the objectives, policies and strategies of the company's marketing department as well as the manner and the means employed in attaining these goals.

Because of the constantly varying business environment, marketing audit is frequently required, not only at the beginning of the planning process.

Marketing audit on a regular basis is a strong reference point, reflecting evolution in external business environment, internal experience and strategy development.
The marketing audit focuses on three key headings:

1. The external marketing environment
2. The internal marketing environment
3. Evaluation on the current marketing plan

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