The Marketing Audit: Introduction
The Marketing Audit: Introduction
The Marketing Audit: Introduction
Marketers should find the perfect balance between Internal & External factors that directly or indirectly impacts the company’s income. To determine the risks of a factor, marketers use Marketing Audits tactics.
External Factors.
From the name, it means the factors outside of the company components. These factors impact the business but the influence of the company is small & most of the time there’s no influence at all.
- Government Policies.
- Global Pandemic.
- Inflation.
- Demographic Shift.
- Environmental Disasters.
Internal Factors.
This term represents the managemental and physical aspects of a company. This also impacts a company’s growth. Internal factors have a strong foundation for a business. which means a minor mistake on them could lead the entire company to shutdown circumstances.
- Business Model.
- Manufacturing Capabilities.
- Infrastructure.
- Human Resource.
For flawless management of a company, marketers should analyze all the pros and cons of a business model and a marketing strategy. Efficiently using those factors analyzing and taking decisions according to the marketing analysis reports can help businesses to survive. PEST analysis is one of the comprehensive auditing techniques that is extremely handy for marketers to point out all the advantages and disadvantages of a startup, even without any past data and analytics.
