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4% — Exactly how much the Top Managers know about the actual state of affairs in the company.
Marketing audit helps to determine the actual market needs and opportunities of the company, as well as to identify problems in interaction with the external environment. It is a process of analyzing and evaluating all aspects of marketing activities. Its main purpose is to identify weaknesses that hinder the strengthening of market positions and effective business development.
In addition, audits reveal hidden reserves and open up new prospects for growth. Regular analysis helps to adjust the strategy in accordance with changing market conditions, which contributes to increased competitiveness and promotional efficiency.
When is a marketing audit necessary?
Marketing audits become particularly relevant in the following circumstances:
- During structural changes in the company or entering new market segments
- At the first signs of declining sales and a shrinking customer base.
- At the stage of preparation for launching a new product on the market
Key Components of Marketing Audit
External Environment Audit
🔹Market Trends Audit: Market research, studying demand development trends, forecasting growth for the coming years.
🔹Target Audience Analysis: Segmentation and analysis of target audiences, identifying and evaluating factors influencing purchase decision-making.
🔹Competitive Environment Research: Study of the competitive landscape, evaluating entry and exit barriers in the market.
Key Components of Marketing Audit
Internal Environment Audit
🔹Marketing Organization Audit: analysis of the goals and objectives of the marketing department, the functional structure of marketing within the company, the level of professional competencies and staff competence, and the motivation system.
🔹Marketing-Mix Audit: analysis and evaluation of the effectiveness of marketing tools (audit of product, pricing, distribution, and communication policies).🔹Evaluation of the Marketing Structure: analysis of the effectiveness of marketing planning, operational reporting, and the existing control system for achieving set goals and tasks, and their subsequent accomplishment.
Service Excellence
Why Choose Us
Planning to scale or a new strategy?
Process
How We Work: 5 Stages of Marketing Audit
Data Collection
We analyze current marketing materials, promotion channels, customer base, and the results of previous campaigns.
Evaluation of the current situation
Проводим диагностику эффективности маркетинговой деятельности, выявляем сильные и слабые стороны.
Market and competitor analysis
We study market trends, consumer behavior, and competitors' actions to identify growth opportunities.
Formulation of conclusions
We prepare a report with a detailed description of problem areas and potential growth opportunities.
Recommendations
We develop specific recommendations to improve marketing processes and enhance their effectiveness.