How to conduct a marketing audit?
To learn how to conduct a marketing audit; first you need to understand what marketing audit is.
To conduct a marketing audit, you need to get information about factors that affecting both external and internal your business environment.
The factors affecting your external marketing environment are called External Audit or Macro-environmental factors, while those are affecting your internal marketing environment are called Internal Audit or Micro-environmental factors.
How to get information about factors affecting External Marketing Environment or Macro-environmental issues?
This can be achieved through secondary marketing research sources as:
- Published Data (electronic or printed): Most Recommended
You can get that information from: the Government, Trade Associations, Periodicals, Newspapers, Books, Annual Reports, or Private Studies.
Recommended Source for getting information about External Marketing Environment or Macro-environmental factors would be; https://www.cia.gov/library/publications/the-world-factbook/
Standardized sources of marketing data:
Such As; STORE AUDITS, WAREHOUSE WITHDRAWAL SERVICES, CONSUMER PURCHASE PANELS, SINGLE SOURCE DATA, NIELSEN’S TELEVISION INDEX, STARCH SCORES, ARBITRON PANEL, and MULTIMEDIA SERVICES.
How to get information about factors affecting Internal Marketing Environment or Micro-environmental issues?
You need to utilize both secondary research sources and to conduct primary researches to get that information.
1. Recommended secondary research sources:
A.1. Internal records:
As; sales results, marketing activities, cost information, distributors’ reports and feedback, customers feedback and employees’ feedback.
A.2. Syndicated Research.
2. Conduct a Primary Research:
You need to consider both qualitative and quantitative methodologies to get that information; but my recommendation is to focus on qualitative research more than quantitative research. So what is recommended are:
- To conduct Focus groups; preferable to use projective techniques.
- To conduct In-depth Interviews; using projective techniques.
- To conduct Mystery Shopping as observation technique, you can consider both personal and mechanical mystery shopping approaches.
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