Audit of methodology both an external audit with

  • No School
  • NONE Accounting
  • Homework Help
  • 13

This preview shows page 10 - 12 out of 13 pages.

Audit of Methodology Both an external audit with analysis of external factors and an internal audit were used. Time Frame The conduct of the audit must include a timeframe for occurrence of audit after the first 12 months of implementation Participants Name Role Contribution Rose Ready Owner, Ready Made Marketing Marketing consultant Provide broader research information Offers opinions about the relationship between Mario and Ready-Made Marketing as well Mario Sarto Owner Sarto Gourmet Pasta Provide reasons behind the decisions and direction given Eric Yeung Account (External) Provide financial data on costing and profitability Adriana Como Sales and Promotional (internal) Internal operational problems with the marketing process Gourmet Pasta marketing audit: Sarto's Gourmet Pasta: Main characteristics Comprehensive Relationship with the consumer Understanding the market Recognition of the necessary change points Main Elements Situation analysis Marketing strategy Financials Budget Forecasts Controls AU For the organisation are: the environmental audit, the organisational audit, the system audit and the productivity audit. Forms of Marketing Audit PEST is an acronym for Political, Economic, Social and Technological. Assess four external factors relation to the business situation. Helps you determine how these factors will affect the performance and activities of your business in the long-term
Image of page 10
Sarto's Gourmet Pasta Criteria used in an external marketing audit Need to understand market needs Need to understand the insertion and penetration of the brand need to understand the opportunities for expanding market share. Describe in qualitative and quantitative terms external environmental factors Qualitative: Slice of market with strong acceptance, within governmental interests Quantitative: Increase in sales, increase possibility of market share Competition. Identify and describe in qualitative and quantitative terms the technological factors Qualitative: There is a niche to be explored in deliveries and specialized applications. Quantitative: website would increase distance selling. Expansion of social media advertising 3 rd part home deliveries. Identify and describe in qualitative and quantitative terms the market characteristics Quantitative: Possibility to increase Quantitative: great acceptance of the product emergent. Bargaining power - high Market responsiveness – high Identify and describe in qualitative and quantitative terms the competitive factors. Quantitative: competitiveness in value of products Quality: higher quality of products than the competition Price, delivery time, size. Sarto's Gourmet Pasta Identify criteria to use in your internal marketing audit example.
Image of page 11
Image of page 12

You've reached the end of your free preview.

Want to read all 13 pages?

What students are saying

  • Left Quote Icon

    As a current student on this bumpy collegiate pathway, I stumbled upon Course Hero, where I can find study resources for nearly all my courses, get online help from tutors 24/7, and even share my old projects, papers, and lecture notes with other students.

    Student Picture

    Kiran Temple University Fox School of Business ‘17, Course Hero Intern

  • Left Quote Icon

    I cannot even describe how much Course Hero helped me this summer. It’s truly become something I can always rely on and help me. In the end, I was not only able to survive summer classes, but I was able to thrive thanks to Course Hero.

    Student Picture

    Dana University of Pennsylvania ‘17, Course Hero Intern

  • Left Quote Icon

    The ability to access any university’s resources through Course Hero proved invaluable in my case. I was behind on Tulane coursework and actually used UCLA’s materials to help me move forward and get everything together on time.

    Student Picture

    Jill Tulane University ‘16, Course Hero Intern

Ask Expert Tutors You can ask You can ask ( soon) You can ask (will expire )
Answers in as fast as 15 minutes