what is Markting Audit and why companies use this?

Answer 1

It looks at all the aspects of a potential market, geography, size, what the product is, how will this fit into the market, advertising, channels of distribution, competitors, political conditions (international marketing).

Well alot of aspects regarding getting the product into the market, I have a whole list i can give to you, I recently did an assignment on it.

Companies use it to see what needs to be done to go into the market like the products weaknesses, they may have to change some aspects of it to suit the market better

Answer 2

Marketing Audit basically refers to the Segmental Audit, which is not a traditional form of Audit. In case of a Marketting Audit, the period selection is the first step.

Marketing Audit is a form of Quality Audit, which is part of Performance Audit undertaken for the pupose of improving the entity's strength of operations.

Marketing Audit is basically undertaken with a view to arrive at a opinion on the Quality Levels of present marketing operations, setting up the trends for forecasting into the Future Marketing Plans and to make Technical and Operational corrections, if any, required in the current operation.

In a marketing audit basic coverage follows on the items involving Supply Distribution Chain. i.e. from the Finished stock movement to production order level.

The purpose of this work is explained in para 3 as above.

Answer 3

he makes an advanced revision for accountants - just to make much sure by employing a more specialized person