Assessment item 1: Marketing Audit

The first piece of assessment for marketing management MKT 5000 is to conduct an audit of a company of your choice from the marketing perspective. This is know as a marketing audit. The idea of the assessment is for you to demonstrate that you understand the key principles of marketing that have been addressed in the first half of semester, and that you are able to demonstrate how these principles can be applied in practice. An audit is ideally about researching the company and the environment it operates in. The pro ect should not e!ceed ",000 words in length. #deally $500%"000 words. To conduct a marketing audit the following template should be used. This pro ect is a management report and should be written as such. The report will re&uire an e!ecutive summary, a table of contents, headings for each section and a set of recommendations that re&uire discussion and ustification. The report must also offer a clear description of the firm and the product or service offering you have selected. 'our audit includes the following(
Assessment item 1: Marketing Audit Organisational Objective Positioning Current environment and operation conduct a SWOT Internal factors The strengths and weaknesses internal to the organization. External factors The opportunities and threats presented by the external environment to the organization. Complete a PEST ( political , environmental , social and technological) analysis Political actors. Economic actors. !ocio"cultural actors. Technological actors. Environmental factors discussing the issues of green management and sustainability #egal factors any legal$ regulatory issues that will affect the product Sta eholder !nalysis (Sta eholder "atri#) %utcomes& 'escription& Strategy assessment (ision )ission !tatement The central purpose and role of *ny+iz Inc is defined as& ,orporate (alues *ny+iz operates in accordance with the highest standards in all relationships with customers$ suppliers$ environment and the community. *ny+iz fosters a climate which encourages innovation and diligence amongst staff and rewards accordingly. corporate values governing *ny+iz Inc-s development will include the following& +usiness %b.ectives

)a.or /oals $ECO""E%&!T'O%S 0hen developing your recommendations you could use the audit checklist. !trategic *ction Programs 1ey !trategies& these are summary of the direction the firm needs to take in the future

A brief summary of each area is offered in the following sections.

Organisational Objective
The first part of the audit is to determine what the company is trying to achieve with their current marketing programs.

Positioning
#n this section compare the traditional media, sales and marketing positioning strategy and image of the company. To what e!tent are the images being promoted either complementary or conflicting)

Current environment and operation

#t is very important that an organi*ation considers its environment before beginning the marketing process. #n fact, environmental analysis should be continuous and feed all aspects of planning. The organi*ation+s marketing environment is made up of( $. The internal environment e.g. staff ,or internal customers-, office technology, wages and finance ./0T ". The micro%environment e.g. our e!ternal customers, agents and distributors, suppliers, our competitors .TAK1203415 6. The macro%environment e.g. 7olitical ,and legal- forces, 1conomic forces, .ocio% cultural forces, and Technological forces. 71.T

conduct a SWOT
The aim of any ./0T analysis is to identify the key internal and e!ternal factors that are important to achieving the ob ective. These come from within the company+s uni&ue value chain. ./0T analysis groups key pieces of information into two main categories(

Internal factors The strengths and weaknesses internal to the organi*ation. External factors The opportunities and threats presented by the e!ternal
environment to the organi*ation. The internal factors may be viewed as strengths or weaknesses depending upon their impact on the organi*ation+s ob ectives. /hat may represent strengths with respect to one ob ective may be weaknesses for another ob ective. The factors may include all of the functions of marketing8 as well as personnel, finance, manufacturing capabilities,

and so on. The e!ternal factors may include macroeconomic matters, technological change, legislation, and socio%cultural changes, as well as changes in the marketplace or competitive position. The results are often presented in the form of a matri!. The most important part of your swot is to conclude all your findings to an issues statement also know as a gap analysis this includes: 2ow can we use and maintain our .trength) 2ow can we improve each /eakness) 2ow can we e!ploit each 0pportunity) 2ow can we mitigate each Threat) /e need to cross check each of these against each%other to ensure that we have and can develop strengths that can e!ploit opportunities and avoid threats

Complete a PEST ( political , environmental , social and technological) analysis

Political actors.
The political arena has a huge influence upon the regulation of businesses, and the spending power of consumers and other businesses. 'ou must consider issues such as( $. 2ow stable is the political environment) ". /ill government policy influence laws that regulate or ta! your business) 6. /hat is the government+s position on marketing ethics) 9. /hat is the government+s policy on the economy) 5. 4oes the government have a view on culture and religion) :. #s the government involved in trading agreements such as 1;, <A=TA, A.1A<, or others)

Economic actors.
Marketers need to consider the state of a trading economy in the short and long%terms. This is especially true when planning for international marketing. 'ou need to look at( $. #nterest rates. ". The level of inflation 1mployment level per capita. 6. 3ong%term prospects for the economy >ross 4omestic 7roduct ,>47- per capita, and so on.

!ocio"cultural actors.
The social and cultural influences on business vary from country to country. #t is very important that such factors are considered. =actors include( $./hat is the dominant religion) "./hat are attitudes to foreign products and services) 6.4oes language impact upon the diffusion of products onto markets) 9.2ow much time do consumers have for leisure) 5./hat are the roles of men and women within society) :.2ow long are the population living) Are the older generations wealthy) ?.4o the population have a strong@weak opinion on green issues)

Technological actors.
Technology is vital for competitive advantage, and is a ma or driver of globali*ation. Aonsider the following points( $. 4oes technology allow for products and services to be made more cheaply and to a better standard of &uality) ". 4o the technologies offer consumers and businesses more innovative products and services such as #nternet banking, new generation mobile telephones, etc) 6. 2ow is distribution changed by new technologies e.g. books via the #nternet, flight tickets, auctions, etc) 9. 4oes technology offer companies a new way to communicate with consumers e.g. banners, Austomer 5elationship Management ,A5M-, etc) 0ther factors to identify include

En#ironmental factors discussing the issues of green management and sustainability $egal factors any legal% regulatory issues that will affect the product

Sta eholder !nalysis (Sta eholder "atri#)

&b'ecti#es: To provide a clearer understanding of stakeholders and, as a result, provide insights as to how best to engage them. This section should include all customer% demographic% community% go#ernment and market data that impacts your firm

&utcomes:
Better community engagement plans and pro ect outcomes. A competitor and customer analysis is an essential part of a stakeholder analysis. This includes an analysis of the key competitors, customers and other stakeholders of the organisation and their needs to be undertaken. Together with the matrix assessment% this will gi#e you comprehensi#e co#erage.

(escription:
.takeholder analysis is an essential part of developing a useful 1ngagement@environmental scan planning process. A common method of stakeholder analysis is a .takeholder Matri!. This is where stakeholders are plotted against two variables. These variables might be plotting the level of CstakeD in the outcomes of the pro ect against CresourcesD of the stakeholder. Another is the CimportanceD of the stakeholder against the CinfluenceD of the stakeholder. The concept is the same, though the emphasis is slightly different.

Bo!es A, B and A are the key stakeholders of the pro ect. The implications of each bo! is summarised below( )ox A These are stakeholders appearing to have a high degree of influence on the pro ect, who are also of high importance for its success. This implies that the implementing organisation will need to construct good working relationships with these stakeholders, to ensure an effective coalition of support for the pro ect. 1!amples might be the senior officials and politicians or trade unions. )ox ) These are stakeholders of high importance to the success of the pro ect, but with low influence. This implies that they will re&uire special initiatives if their interests are to be protected. An e!ample may be traditionally marginalised groups ,e.g. #ndigenous people, youth, seniors-, who might be beneficiaries of a new service, but who have little CvoiceD in its development. )ox * These are stakeholders with high influence, who can therefore affect the pro ect outcomes, but whose interests are not necessarily aligned with the overall goals of the pro ect. They might be financial administrators, who can e!ercise considerable discretion over funding disbursements. This conclusion implies that these stakeholders may be a source of significant risk, and they will need careful monitoring and management. )ox ( The stakeholders in this bo!, with low influence on, or importance to the pro ect ob ectives, may re&uire limited monitoring or evaluation, but are of low priority.

Strategy assessment
The audit must include coverage of your current strategy this will then integrate and flow into your recommendations. 'our recommendation must be complimentary of the firmDs direction.

/hat is your firmDs current strategy)

+ision
The promoters+ vision of AnyBi* #nc in 6%9 year+s time is( AnyBi* will be operating from a !!! s&. ft. unit near !!! Town. #t will have annuali*ed sales of E!!! and be profitable. #t will employ !!! people mainly engaged in 5 and 4, marketing, support and admin. AnyBi* will offer !!! core products and provide added%value services to a large customer base throughout the !!! market segments and in !!! countries overseas. AnyBi*+s offerings will be technically advanced and offer many clear%cut advantages and improvements over competitors+ possible offerings. AnyBi* will continue to e!pand through organic growth and ac&uisitions in related technology@market segments. #t will have recently received me**anine finance prior to a public offering.

,ission !tatement The central purpose and role of AnyBi* #nc is defined as(
AnyBi* designs, develops and markets advanced systems for specialist data capture and transaction processing management. These web%based systems work with specialist hardware supplied by ma or integrators. They are sold to small, medium and large%si*ed companies within the !!! industries for a range of specialist applications. AnyBi*+s systems are distinguished from competition by their sophisticated interfaces, scalability and ease of modification and are e!tensively patented. .ales are made directly and through ma or distributors@01Ms in the home market and overseas.

*orporate +alues
AnyBi* operates in accordance with the highest standards in all relationships with customers, suppliers, environment and the community. AnyBi* fosters a climate which encourages innovation and diligence amongst staff and rewards accordingly. corporate values governing AnyBi* #nc+s development will include the following(

)usiness &b'ecti#es
3onger%term business ob ectives of AnyBi* #nc are summari*ed as( To e!pand the business aggressively and offer above%average returns to shareholders. To become the leading, innovative systems company within the !! market segments.

,a'or -oals
'ou need to highlight the firmDs current and future goals. 4o this by stating first the past goals of "0$0 and then the future goals of "0$$ e.g.. <ew goals could include issues like those that the follow( Key targets will be achieved by AnyBi* #nc over the ne!t 6%9 years( Achieve sales of E!! million by "00F 5eport annuali*ed profits of E!! million in "00F .ecure !!G of the !! market segment by "00F Become largest supplier of !!! systems in !! countries within !! years 1mploy !!! people including !!G technically &ualified by "00F

2ave sales offices or agents in !! key markets before "00F

$ECO""E%&!T'O%S
/hen developing your recommendations you could use the audit checklist. Initial market audit checklist 4o you have a traditional strategy and a marketing orientation in your firm 4o you understand your offline consumers and your online consumers 2ave you clearly defined your product@service offering and business purpose) 4o you understand the customer pricing desires for your product service) Are you price minus) 4o you understand the emerging trends of your market place /hat channel does your business currently use and do you think a web presence would work for you) 2ave you measured the success of your current promotion) 4o you know which promotion strategy your customer responds to) yes no

!trategic Action Programs

The marketing audit should conclude with a summary of !trategic Action Programs% these should flow from your findings in the environmental analysis and the current strategies and activities of the firm. They should support and align well with the goals, mission, and the vision of your firm. 1!ample( The following strategic action programs will be implemented( A10( 7repare comprehensive business plan and develop contacts to raise apital within :%H months.

A=0( 5ecruit Marketing 4irector and other key staff for marketing@sales and 25 4irector within 6%9 months. Tech4ir( 5eview 5 and 4 resources and scope for technical alliances % e!pand with arrival of IA. Board( 1!pand Bo4 to include further independent financial, technical and industrial e!pertise prior to seeking IA. All( 4evelop and implement accelerated market entry and development plans.

This section should also include and overview of the future strategies

.ey !trategies: these are summary of the direction the firm needs to take in the future
The following critical strategies will be pursued by AnyBi* #nc( $. ". 6. 9. 5. :. ?. J. Accelerate product launches by strengthening 5 and 4 team 1!tend links with key technology centres 5aise additional venture capital 1!pand senior management team in sales@marketing 5ecruit non%e!ecutive directors .trengthen human resources function and introduce share options for staff Appoint advisers for intellectual property and finance .eek new market segments@applications for products i. market segmentation ii. selection of target market iii. positioning statement i#. differentiation and competiti#e ad#antage statement #. marketing strategy and marketing mix

The following important strategies will also be followed( $. ". 6. 9. 5. :. ?. 4evelop new online ecommerce presence Aommission assessments of key markets .tart participating in trade shows and missions 4evelop overseas market entry plans using online strategies 7ursue strategic alliances with complementary players .trengthen web presence and promote .eek new market segments@applications for products

After completing your environmental analysis including ./0T, 71.T, stakeholder analysis and over%viewing your firmDs strategy, goals, visions, values you should be able to make a number of clear recommendations to move forward in the future. The marketing audit does not include an action plan and specific strategies for the varying 7Ds of the firm.