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Explain Marketing Audit

Marketing Audit: One of the most fundamental parts of marketing planning process is marketing audit. It is conducted both at the beginning of the process and also in between the series of points during the implementation of plan. Both internal and external influences are taken care of during marking audit. Before moving ahead it is necessary to know why a marketing audit is required in financial and banking sector. Marketing audit is very essential for any organization to achieve its target goal and objectives. Corporate strategy and business strategy deals with ideas relating to mergers, operations, corporate governance etc, whereas Marketing strategy deals with the ideas with which product and services can reach possible customers. Marketing strategy aims at satisfying needs and demands of the customers. Goal of the organization should be to meet these needs and demands in way so as company could generate good revenue and earn handsome profit.

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