Marketing audit and objectives, marketing, Marketing Management

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What is Marketing Audit, Marketing Audit is periodical assessment of marketing performance of a product. It is done with specific objectives in order to create awareness and improve sales. It appraises current activities in marketing. Identification of opportunities and plan of action to improve sales performance. SWOT is regulating external and internal marketing environment. Market segmentation is identifying group of customers who share similar set of needs and wants. Marketing communication should be on par with competitors. These aspects are analyzed for DULUX paint in the case analysis. The company can conduct marketing audit periodically with the following objectives.
AIM
Restoring sales of DULUX Trade Paints especially brands such as Duette, Sonata and Acrylic Glaze for trade customers at UK. Understanding the reasons for slower sales of Acrylic Glaze, Duette and Sonata. To improve the special effect ranges on the aforesaid brands. Sales strategy for builder merchants and retailer segments in Britain. Creating higher level of awareness for the brand especially special effect products. Increasing the perception level of special effect brands among builder’s merchants and retailers. Improving marketing communication about the brand for professional specifier. Better communication about the product features in each brand category. To remove the bottlenecks in distribution of the products to the buyers. Implementing, strategy to improve marketing performance. Marketing audit is periodic scrutiny of a business marketing environment, aims, functions and course of action to understand problem and opportunities to improve marketing performance. Philip Kotler (2007)

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