Marketing Audit The purpose of this project is to critically evaluate the marketing strategies of a specific company.
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Marketing Audit
The purpose of this project is to critically evaluate the marketing strategies of a specific company. You should draw from the course material: books, handouts, and class discussions for your information. Additionally, you must learn all you can about the company and the industry through published sources and through conversations with knowledgeable representatives of the company.
The completed paper should be ten pages of content (not including cover page, references, or appendices). It should also include any relevant material in the appendices (e.g. interview dialogue), and a complete reference list. You must use at least four sources not including your textbooks. All sources must be properly cited in-text and on the reference page.
The content of the paper should include all of these sub-titled sections:
The Company and Product:
- Company history (up to one page)
- Describe the markets and products for this firm.
- Describe the features and benefits of the products/services offered.
External and Internal Environment
- Single out two trends in the environment that represent an opportunity and two trends that represent a threat to this specific company. Under each opportunity, suggest a positive action. For each threat, suggest a defensive action.
- Identify and compare the strengths and weaknesses of your company with its major competitors.
Target Market
- Identify the target customers. Is there more than one type of target customer?
- What segmentation basis does the company use to identify its customers?
Pricing and Distribution
- What pricing strategy is the company using?
- What is the form of the companys channel of distribution? Are there any ecommerce relationships?
- What does the company do to build relations with their customers and their suppliers and/or other channel members? How do they measure and track these relationships?
Promotional Strategy
- What is the companys integrated marketing communications strategy?
- What medium does it use to advertise? How effective is the advertising?
- How do they use social marketing or websites to promote themselves?
- Does the company attend trade shows? Evaluate their effectiveness.
- Are personal selling and public relations important to this company? Describe and evaluate the appropriateness of personal selling and public relations.
- Suggest any promotional strategies that may help your company.
Conclusions
- What have you learned from this company? Overall, what is the performance level of this company? What are the important factors concerning marketing that have contributed to the success or failure of this specific company?
- What (if anything) would you do differently? What would you suggest to your company for a future action plan concerning its strategic marketing?
Write your paper in Microsoft Word and format it according to APA standards.
