Client Marketing Audit Engine Builders
The paper is intended to outline the marketing situation of the Company and to make reasonable recommendations about the proper tact and development of a strategic marketing position.
As written in A Framework for Marketing Management and Marketing Management Millennium Edition, Tenth Edition (Kotler, Philip), “Modern marketing calls for more than developing a good product, pricing it attractively, and making it accessible to target customers. Companies must also communicate with present and potential stakeholders, and with the general public. The marketing communications mix consists of five major modes of communication: advertising, sales promotion, public relations and publicity, personal selling, and direct marketing.”
Kotler also wrote that for a company to develop an “effective marketing communication requires eight steps: (1) Identify the target audience, (2) determine the communication objectives, (3) design the message, (4) select the communication channels, (5) establish the total communication budget, (6) decide on the communication mix, (7) measure the communications’ results, and (8) manage the integrated marketing communication process.
Within the following marketing audit an honest attempt has been endeavored to accurately observe behaviors and contemporaneously record conversations with employees, ownership, prospects and customers in such a was as not to divulge the identity of the source. Hopefully, such anonymity has bolstered the honesty of those that have given information to the author. In turn, the resulting honesty should have improved the chances for an accurate compilation of the current marketing position of the Company.
To the extent that accrued sales data and financial statement information was not available for review and comparison to industry norms and metrics the audit was limited to interviews and subjective data. While some polling has been executed with customers in order to paint an accurate picture of local and surrounding demographics and market share, the Company should endeavor to obtain more comprehensive market share data to fully exercise their place in the industry.
During the past five weeks, the following elements of the marketing position of the company have been reviewed:
Part I. Marketing Environment Audit