What are the components of a marketing audit?


Quick Answer

A marketing audit should include an overview of the company, a list of marketing goals, a description of current customers, a target customer profile and a product or service description. The audit should also include a list of competitors, a communication plan and a description of previous marketing efforts.

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Full Answer

A marketing audit helps business owners identify internal and external factors affecting their marketing plans. Conducting an audit makes it easier to identify untapped markets, create consistent marketing messages and develop new strategies for attracting customers.

The company overview should include the location of the company, a list of key personnel and a chronology of company events. This helps determine if customers in a specific market are aware of the company and its offerings. Marketing goals should be very specific to make them easy to track. "Open five new accounts by March 1" is a measurable goal, but "find new customers" is not.

Creating a target customer profile makes it easier to determine the best way to reach customers in a particular audience. The profile should include the size of the target audience and a detailed description of the desired customer. Identifying competitors ahead of time helps marketing associates determine the best way to position new products and services in the market. Each competitor profile should include a detailed description of the company's offerings.

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