Report on marketing audit analysis tools for company x assignment

Macro analysis looks at the external business environment and influencers, providing the company with opportunities ‘ for’ and threats ‘ against’ success. Various models exist, which provide a structure to work within i. e. PESTEL, which is explained further on in this report. This analysis covers the political and legal environment, key economic factors, social and cultural issues, technological evolution and ecological or environmental factors – all influence the way business can be done, either posing a threat to be addressed and action taken, or presenting an opportunity to be exploited.

Macro analysis is extremely important to any marketing audit no matter how simple or complex. Without finding out about what is going outside the four walls of a company, marketing and corporate decisions will be made blind and consequences could be catastrophic. Changes within this environment happen frequently and it may be difficult to keep up with / find out about them all. This level of research may require assistance from an external research agency, which can cost in time and money but may be vital to the overall activity. 6.

War / Terrorism affect views on travelling to events ??? alternative is video communication 3. Laws / costs when transporting video equipment abroad Significant impact on X GROUP’s marketing, will affect profitability Economical 1. Customers’ desire to spend on video production affected by state of economy 2. X GROUP’s borrowing ability to invest in video production affected by interest rates Affect X GROUP’s ability to achieve high profits and performance Social 1. Language barriers / cultural differences when filming on location / abroad 2.

Perceptions of X GROUP’s values Affect how X GROUP carry out their service. Technological 1. New advanced filming / editing equipment ??? widely available 2. Development of the Internet / broadband / mobile phone – better transference of data direct to customer 3. Laptops / mobile Internet allowing flexibility for viewing and selling video production. Cost of keeping up to date can be high, but so can the rewards. Ecological 1. Global warming & diminishing natural resources could affect future travel 2. Green’ movement activists may influence more changes in law regarding business waste and pollution issues Affect the way X GROUP does business and the materials and processes used Legal 1. Copyright issues with music, graphics and scripts Can result in profit reduction / legal action In summary, PESTEL analysis is vital to any marketing audit due to the wide scope of influential issues it covers. ii) SWOT Analysis SWOT analysis is extremely useful as it draws together key information resulting from the macro and micro analysis, flagging up strengths, weaknesses, opportunities and threats identified.

It provides a framework to investigate the competitive environment through a number of micro factors, and enables industry attractiveness to be measured and complexity of operating markets understood ??? making it exceptionally useful. Porter’s framework is an opportunity for X GROUP to understand the holistic range of driving forces in the micro environment, which can be linked to macro analysis and enables a full SWOT analysis to be developed. All of this aids key marketing decision making and strategy development 8. Conclusion

In conclusion to my report, micro and macro analysis are vital to the marketing audit to enable X GROUP to make informed marketing and corporate decisions. Marketing information and research is also invaluable to the process as it provides relevant information on what is happening in a company’s internal and external environments. All of the four analysis tools discussed will help X GROUP in different areas of the marketing audit, finding out about environments, key influencers, and prompting actions to be taken to improve situations ??? each tool is important for X GROUP to undertake their complex marketing audit.