What are the ways in which a marketing audit can help improve coordination between functional areas of
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How can a marketing audit be used to make adjustments to a marketing plan?
Why would some business executives argue that a marketing audit is fundamental to establishing and maintaining a competitive advantage?
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A marketing audit is n periodic evaluation of the marketing program of the company and if the marketing strategy is moving in the desired direction If the marketing audit is done on a regular basis then it can be seen that production customer service new product development deliverables financials all move along with marketing strategies The entire function of the organization is dependent upon very successful strategies of marketing hence unless there is coordination of other function areas marketing becomes useless So the marketing audit should look at sales production and finance in a very coordinated manner A marketing audit brings out deficiencies if any between the external and internal environment that the firm exists in and allows the very important SWOT analysis to be performed to know the threats and weaknesses of the firm it also helps in understanding the five forces of the market ...View the full answer
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Ali Khawaja
my expertise are as follows: financial accounting : - journal entries - financial statements including balance sheet, profit & loss account, cash flow statement & statement of changes in equity -consolidated statement of financial position. -ratio analysis -depreciation methods -accounting concepts -understanding and application of all international financial reporting standards (ifrs) -international accounting standards (ias) -etc business analysis : -business strategy -strategic choices -business processes -e-business -e-marketing -project management -finance -hrm financial management : -project appraisal -capital budgeting -net present value (npv) -internal rate of return (irr) -net present value(npv) -payback period -strategic position -strategic choices -information technology -project management -finance -human resource management auditing: -internal audit -external audit -substantive procedures -analytic procedures -designing and assessment of internal controls -developing the flow charts & data flow diagrams -audit reports -engagement letter -materiality economics: -micro -macro -game theory -econometric -mathematical application in economics -empirical macroeconomics -international trade -international political economy -monetary theory and policy -public economics ,business law, and all regarding commerce
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