Strategic Marketing Master Assignment Example | Topics and Well Written Essays - 2000 words

Strategic Marketing Master - Assignment deterrent exampleThese three elements form the basis of a securities industrying management audit. The following sections will explain how ane can use the marketing audit to uncover the teaching one will need to constitute ones eventual marketing activities.First point of comparison between the two is that marketing audit is a comprehensive, systematic and periodic examination of a libertines environment, objectives, strategies and activities to find problem areas and opportunities to recommend a plan of follow up to improve the performance of marketing strategies of the firm. Whereas an audit of financial statements is defined as the assessment by an self-directed third political party of the financial statements of an organization or a company or early(a), ensuing in the publication of a sovereign view on whether or not those financial statements are appropriate, turn down and comprehensive.Financial audits are characteristically c arried out by firms of practicing accountants, due to the expert financial reporting information they need. The financial audit is one of many declaration or evidence of tasks provided by accountancy firms, whereby the firm offers an independent view on published data. Financial audits also help investors deciding whether to invest in a firm or not. Marketing audits are also performed by independent third party with the purpose of defining the shortcomings of the present strategies of the firm. The Market Audit Element A market audit is an movement to define the structure of the environment in which a company operates-the marketplace. Its function is to collect information and engineer it in a fashion that alerts one to marketing needs, problems, and opportunities. This information becomes a document that provides a detailed, accurate, and indifferent(p) view of the marketplace. Why Perform a Market Audit The purpose of playing a market audit is to find out what to expect from t he marketplace one are currently in or are considering entering. It provides one with data on any barriers or limitations one might encounter in entering or expanding into a market so that one can determine what it will follow to exist or compete. It also tells one what the possible return will be in other words, what the market is worth to one (market value) or what one can expect in terms of receipts generation (sales volume/ earning potential). The market audit is the base from which one will develop tactic to stir these returns. A market audit builds the foundation for future marketing decisions. The golden rule in performing a market audit is that one must be objective and read the market as it actually is. This means the audit must not be structured around ones product, service, or business. though these may be mentioned as reference points, dont make them central to the audit. To do so could result in conclusions slanted toward ones business, giving one an inaccurate pictu re of the market and defeating the purpose of the exercise. The audit is based on market research activities and must be completely independent from research on the performance of ones product, se