Assessment 1

Part A – Answer the below questions

Question 1:
Explain at least 2 examples of different marketing audit types.

Internal Marketing Audit: This kind of audit focuses on studying and evaluating the inner advertising
techniques, approaches, and assets of an enterprise. It includes assessing factors inclusive of the
advertising and marketing objectives, marketing mix (product, rate, vicinity, promotion), goal market
evaluation, advertising abilities, advertising enterprise structure, and inner advertising and marketing
communique channels. The inner advertising audit facilitates perceive strengths, weaknesses, and areas
for improvement in the agency's advertising and marketing function.

External Marketing Audit: An outside advertising audit examines the external elements that effect the
agency's marketing efforts. It involves reading the marketplace surroundings, competitors, clients,
enterprise trends, and macroeconomic factors. The audit assesses the business enterprise's competitive
role, market opportunities, threats, and the effectiveness of its advertising and marketing techniques
inside the outside marketplace. The external advertising audit enables become aware of potential risks,
market developments, and opportunities for growth or adjustment within the employer's advertising
method.
Question 2:
List and explain the methodologies and data collection techniques appropriate to marketing
audits.

Surveys and Questionnaires: Surveys and questionnaires are useful tools for collecting quantitative and
qualitative records from customers, target markets, and different stakeholders. They can provide insights
into consumer preferences, purchasing conduct, logo belief, and customer pride. Surveys may be carried
out on line, thru e-mail, or in-individual, and the statistics accrued can be analyzed to pick out trends and
patterns.

Market Research: Market studies includes accumulating and reading data approximately the market,
enterprise, competition, and clients. It can include techniques consisting of cognizance companies,
interviews, observation, and secondary facts evaluation. Market studies allows in information market
dynamics, client needs, competitor strategies, and industry trends. The information accrued via market
research permits knowledgeable selection-making and the development of powerful advertising and
marketing strategies.

Data Analytics: Data analytics involves the usage of advanced analytical equipment and techniques to
analyze big datasets and extract meaningful insights. It facilitates become aware of patterns, traits, and
correlations inside the records, presenting precious statistics for advertising audits. Data analytics can
contain techniques such as records mining, predictive modeling, and statistical analysis. By leveraging
information analytics, groups can benefit a deeper knowledge of customer conduct, advertising marketing
campaign performance, and universal market dynamics.
Question 3:
Explain what an organisation marketing plan should include.

Executive Summary: This phase provides a concise examine of the advertising plan, summarizing its key
goals, strategies, and predicted results. It need to seize the essence of the plan and trap readers to delve
deeper.

Situation Analysis: The situation assessment examines the agency's current-day marketing environment,
which includes inner and outside elements that may have an impact on advertising choices. It consists of
analyzing the organization's strengths, weaknesses, opportunities, and threats (SWOT evaluation), in
addition to carrying out an intensive evaluation of the marketplace, competition, and target market.

Marketing Objectives: Clear and precise marketing objectives need to be mentioned, aligning with the
overall commercial enterprise desires. These dreams must be measurable, realistic, and time-positive,
presenting a clear direction for marketing efforts.

Target Market: The marketing and advertising plan must define the target market segments that the
organisation hobbies to serve. It ought to encompass a detailed profile of the audience, considering
demographics, psychographics, behaviors, and options. Understanding the target marketplace enables
tailor advertising and marketing strategies and messages effectively.

Marketing Strategies and Tactics: This phase outlines the advertising and marketing and advertising
techniques and approaches so one can be employed to gain the defined goals. It consists of choices on
product/issuer services, pricing, distribution channels, and promotional sports activities. Each strategy
should be supported through a rationale and specific techniques to execute the method.

Budget and Resource Allocation: The marketing plan need to consist of a detailed price range, specifying
the economic resources allocated to marketing and marketing sports activities. It must outline the fees
related to every marketing strategy and tactic, making sure that the allotted finances aligns with the
desired effects.

Implementation and Control: This phase describes the implementation plan for executing the advertising
techniques and procedures. It includes timelines, responsibilities, and overall performance metrics to
display screen progress and degree the effectiveness of advertising efforts. Regular assessment and
manage mechanisms must be mounted to ensure the plan's a fulfillment implementation.

Evaluation and Measurement: The marketing plan need to encompass mechanisms to evaluate the
consequences and effectiveness of advertising and marketing sports. Key performance indicators (KPIs)
must be identified to tune development in the direction of objectives and permit changes as wished.

Part B – Prepare for marketing Audit

Choose a real company to base your assessment on (hint: the bigger the company, the easier
your assessment will be). You have just been employed as the team leader of the marketing
department for your chosen organization.
Senior management would like you to review the company’s marketing performance by
completing a marketing audit. Answer the questions in as much detail as possible, considering
your organisational requirements.
It is your job to conduct, document and report on an internal and external audit of your
organisation’s marketing activities. This should be completed in accordance with the reporting
requirements of your organisation whilst demonstrating the skills that you have.
Question 1:
Identify objectives of marketing audit according to organisational marketing plan

The objectives of the advertising audit for Coca-Cola based on its organizational advertising and marketing
plan can also encompass:

Evaluating the effectiveness of present day advertising techniques and campaigns in riding emblem
awareness, patron engagement, and sales.
Assessing the alignment of marketing efforts with Coca-Cola's emblem positioning, values, and goal
marketplace.
Analyzing the overall performance of diverse marketing channels and processes, consisting of advertising
and marketing, virtual advertising, sponsorship, and experiential advertising.
Assessing the impact of Coca-Cola's advertising initiatives on client perceptions, attitudes, and loyalty.
Identifying opportunities for innovation and differentiation in the aggressive beverage market.
Evaluating the performance of advertising price range allocation and go back on funding (ROI) for
marketing activities.
Reviewing the impact of rising marketplace traits, which include fitness and well being options, on Coca-
Cola's advertising and marketing strategies.
Assessing the effectiveness of Coca-Cola's advertising verbal exchange and messaging across special
markets and client segments.
Question 2:
Identify scope of marketing audit and audit methodology according to organisational marketing
plan

Internal Audit:

Assessment of Coca-Cola's advertising targets, techniques, and tactics.

Review of advertising and marketing team structure, skills, and tactics.
Analysis of advertising and marketing performance metrics, budget allocation, and ROI.
Evaluation of product portfolio, pricing techniques, and distribution channels.
Assessment of Coca-Cola's logo positioning, messaging, and advertising campaigns.

External Audit:

Market evaluation, along with competitor evaluation and industry developments.

Evaluation of patron options, behavior, and attitudes in the direction of beverages.
Review of social media presence, online reputation, and customer remarks.
Assessment of regulatory and felony elements affecting advertising activities.
Evaluation of the effectiveness of sponsorships, partnerships, and experiential advertising.
The audit methodology may contain a aggregate of records series strategies, consisting of surveys, market
studies, evaluation of economic and performance records, interviews with key stakeholders, and
benchmarking in opposition to industry first-rate practices.
Question 3:
Identify participants required for marketing audit process

Marketing group members liable for specific marketing features, along with emblem managers, advertising
managers, virtual entrepreneurs, and marketplace researchers.
Sales group representatives who collaborate carefully with advertising and marketing.
Customer provider representatives who interact with customers and can offer insights on client
satisfaction and feedback.
Senior control executives responsible for ordinary marketing strategy and choice-making.
External experts or professionals specialized in marketing audits (if applicable).
Question 4:
Identify and explain the characteristics of marketing audit according to task requirements and
audit priorities

The traits of the marketing audit for Coca-Cola will depend on the mission necessities and audit priorities.
Some key characteristics should include:

Comprehensive: The audit ought to cowl all relevant aspects of Coca-Cola's advertising and marketing
sports to offer a holistic view of its advertising and marketing performance.
Objective: The audit ought to be independent and based totally on factual analysis and information, loose
from non-public biases or preconceived notions.
Systematic: The audit have to follow a dependent and organized method, the use of standardized
frameworks and methodologies for consistency.
Actionable: The audit findings should cause actionable suggestions which could pressure improvements in
Coca-Cola's advertising and marketing strategies and activities.
Future-orientated: The audit must now not simplest awareness on modern-day overall performance
however also take into account future tendencies and possibilities that can shape Coca-Cola's advertising
techniques.
Question 5:
Identity elements to be included in marketing audit and its format according to organisational
requirements

Executive Summary: An evaluate of the audit goals, technique, key findings, and guidelines.
Introduction: Background information about Coca-Cola, its marketing goals, and the context of the audit.
Internal Audit Findings: Assessment of inner advertising and marketing techniques, agency, capabilities,
strategies, and overall performance metrics.
External Audit Findings: Analysis of the outside advertising and marketing surroundings, such as
marketplace analysis, competitor evaluation, and enterprise trends.
SWOT Analysis: Evaluation of Coca-Cola's strengths, weaknesses, possibilities, and threats inside the
advertising context.
Findings and Recommendations: Detailed evaluation of the audit findings and actionable
recommendations for improvement.
Implementation Plan: A roadmap outlining the steps and timeline for implementing the encouraged
adjustments.
Conclusion: A precis of the audit manner, key takeaways, and the anticipated effect of the pointers.
The format of the marketing audit file need to align with Coca-Cola's organizational requirements. It could
be a comprehensive written document, supported with the aid of facts analysis, charts, and visible
representations. It ought to be nicely-established, easy to understand, and visually attractive.
Question 6:
Identify and select a marketing audit according to the organisational marketing plan.

Based at the organizational advertising plan of Coca-Cola, a appropriate advertising and marketing audit
can be a Branding and Communication Audit. This audit would possibly cognizance on assessing the
effectiveness of Coca-Cola's branding techniques, messaging, and communication channels throughout
distinctive markets and consumer segments. It might observe the consistency of brand identity, logo
positioning, and the effect of marketing campaigns on brand belief and consumer engagement.

By conducting a Branding and Communication Audit, Coca-Cola can gain insights into regions in which its
branding efforts may be bolstered, pick out out possibilities for development in conversation channels, and
ensure alignment among its marketing and advertising techniques and organizational dreams.
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