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Marketing Audit Approach

PART ONE: Using the Marketing Audit Overview guide, prepare an action plan to include key tasks (what you will do and how you will do it) and due dates for a subject organization (you select). Be sure to include key resources such as people, data, reports, and articles, among others to be used.

The key word is Approach. Please identify how you will approach this task. The term action plan means what steps you will take to complete such task.

When preparing the task, for each part of the Marketing Audit please discuss the following:

a. What types of information and data you plan to review

b. The types of analysis you might perform on the data that you collect

c. When you plan to do this

d. Any challenges that you perceive in completing the part

As there are five parts to the Audit, and four questions above, you should present 20 pieces of information about your approach for doing the audit.

Please provide in-depth response to provide sufficient detail to demonstrate that you have (a) thought in depth about the task and (b) have in place a work plan that will allow you to begin work on the project starting in coming weeks and that will ultimately allow you to succeed.

PART TWO: Prepare an executive summary, table of contents, summary conclusion for each part of the audit, followed by bullet points listing key findings and supporting evidence, including numerical data, and lastly, recommendations to improve the marketing effectiveness of the subject organization.

Solution Preview

In accordance with the rules this is not a completion of an assignment but course of action to help complete the student assignment.

The product selected is URGE digital music from Microsoft and MTV.
Exec. Summary:
a. What types of information and data you plan to review.
The current marketing objectives for URGE, the marketing mix and the expected market share for URGE. The data would be related to the launch of the product.

b. The types of analysis you might perform on the data that you collect.
The executive summary is no place for data analysis, but the pricing strategy of URGE would be discussed, especially the issue of uniform pricing for all downloads.

c. When you plan to do this
The executive summary is prepared after the main body of the report has been prepared. In other words this is prepared at the end.

d. Any challenges that you perceive in completing the part.
If the market audit report is very long and complex, the challenge lies in selecting every bit of important information and deciding what is important and needs to be included and what should be excluded. In case of URGE I would include the summary of the persons involved in the launch, the agreements with Viacom, the competition with iPod, the compatibility of the URGE and the new version of the Media Player to be launched.
Table of Contents
a. What types of information and data you plan to review.
This would simply have a list of chapters of the marketing audit report.

b. The types of analysis you might perform on the data that you collect.
This would include the evaluation of the salience of the market audit report.
For example:
Under the Chapter Internal Environment of URGE:
What is the effectiveness of the URGE team?
What is the state of the URGE marketing planning process?
What is the level of profitability of URGE during its first year?
What is the effectiveness of marketing communications of URGE?
How effective is the customer facing process of URGE?

c. When you plan to do this
This is prepared at the end of the project that is after the executive summary is prepared. There are some marketers who prepare the table of contents at the beginning and use it to plan the audit.

d. Any challenges that you perceive in completing the part:
The challenge lies in selecting the subchapters that need to be included in the table of contents. In case of URGE, I will include the mention of subchapters ...

Solution Summary

Thorough discussion.

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