Marketing Audit Project custom essay
Marketing Audit Project Instructions
A Marketing Audit is a comprehensive, systematic, independent, and periodic
examination of a company’s environment, objectives, strategies, and activities to determine
problem areas and opportunities and to recommend a plan of action to improve the company’s
marketing performance (Kotler and Armstrong, 2011).
A company’s senior executives are concerned about the marketing performance, brand
value, customer loyalty and financial future of your company. The Senior VP for Marketing has
assembled a task force of its top managers (you or your team!) to conduct a marketing audit,
prepare a business plan and present it to the senior executives. You have been given three
months to complete this project. Your task is to conduct a marketing audit by analyzing a
hospitality company’s environment, mission statement and objectives, grand and overall
strategies, competition, and marketing action strategies and tactics to make specific
recommendations for suitable marketing strategies and tactics (short-run and long-run) to
improve the company’s marketing performance.
Throughout the process, individuals and teams should utilize primary and secondary data
as necessary, including your selected company’s homepage, printed materials from the
organization, extant literature, and interviews with owner/managers and/or other appropriate
Projects will be evaluated on thoroughness of marketing assessment, soundness of the
strategic marketing rationale, creativity, use of marketing information and analysis, the fit
between diagnosed marketing issues and recommended marketing actions, and written report
specifications. It should be organized logically and detailed enough to persuade the
owner/management to accept your recommendations. The thoroughness and persuasiveness of
the presentation will also contribute to the final grade.
Companies for Analysis
Listed below are several companies to choose from. You may also choose a company outside of
these if you or your group has a particular interest. If you or someone in your group currently
works for a hospitality company, I would suggest using that company. You must tell me what
company you have decided to conduct the Audit for by September 5, 2015. Informing me
after this date will result in a 5 percent reduction from your final grade for this project.
Aria, SLS Las Vegas, MGM Grand, Venetian, Cosmopolitan, Nobu Hotel
Sheraton, Marriott, Choice Hotels International (Pick your own brand from their brand
Burger King, McDonalds, Taco Bell
Olive Garden, Cheesecake Factory
Carnival Cruise Line, Royal Caribbean
Delta Airlines, Southwest Airlines, Frontier Airlines
HFT‐3503 ‐ Marketing Audit Page 2
Please use each of the categories provided below as headers in your paper. This will insure
that you cover all of the required material. Each component will equally contribute to your
grade for the written portion of the assignment.
OUTLINE FOR WRITTEN REPORT1
- COMPANY OVERVIEW (5 POINTS, 1/2 Page). This section should be a brief description
of the company, i.e. corporate connection, number of units, when it was founded, where it
operates or any other information pertinent to understanding its marketing strategy. Do not write
too much in this section because the focus of the project is on marketing strategy and tactics.
- MISSION STATEMENT, BUSINESS OBJECTIVES, AND STRATEGY (10 POINTS,
What is company’s mission statement? Is it a sound MS? What are the short-term and long-term
goals of the company? What are the growth and competitive strategies of the company?
III. ENVIRONMENT ANALYSIS (10 POINTS, 1 Page). What are the relevant trends for
the industry and company’s business in competitive, economic, demographic, social/cultural,
technological, and legal and political environments? Keep in mind that these trends may have
different meanings for the industry and the company’s business. Identify at least five relevant
trends and briefly describe an opportunity or threat that each trend creates.
- COMPETITOR ANALYSIS (10 POINTS, 1 Page). Identify primary competitors (2-3)
and discuss their overall strategy, market shares, and strategies in terms of product/service, price,
place (location and distribution channels), and promotion.
- THE TARGET MARKET(S) AND POSITIONING (10 POINTS, 1 Page). Identify and
describe your company’s primary (top 2) target market segment(s) in detail by using
demographics, psychographics, geography, lifestyle behavioral or whatever segmentation is
appropriate. How large is it (Size may be described by both geographic dimensions and actual
numbers)? Consider what, where, when, why, how, how much, and how frequently they buy in
What image does the company portray for its target market(s)? What type of positioning
approach is being used? Does the company position itself based on most relevant criteria to the
customer? How does the company differentiate itself from the competition?
- MARKETING MIX (ACTION) VARIABLES (4 Ps) (25 POINTS, 1.5-2 Pages). This
section includes an overview of the company’s marketing mix variables (Note that each variable
needs to be mentioned, but some will get more attention than others).
1 The outline includes the required components and it can be customized to reflect your project topic – you can add
some other relevant information based on other class materials, your understanding of the organization, and your
business knowledge where appropriate
HFT‐3503 ‐ Marketing Audit Page 3
Describe the current product and service offerings of the company. Provide whatever data you
can regarding relative sales contribution of various products or product lines. Highlight
distinctive competencies or competitive advantages of the firm’s products and services — What
do they do or have that is better than anyone else? In addition to strengths, be sure to highlight
any weaknesses you find within the firm and its product/service line.
Describe the pricing objectives and strategies are used by the company? What types of discounts,
if any, are being used?
Describe distribution and location (if appropriate) strategy of the company (i.e. direct or indirect
channels, single or multiple channels, type of intermediaries, E-commerce, etc.)
Describe communication strategy of the company in following areas:
Advertising and Sales Promotions
Direct and online Marketing, including social media
Note: Provide specific examples in Exhibits section.
VII. SWOT ANALYSIS AND RECOMMENDATIONS (20 POINTS, 1.5-2 Pages).
Summarize opportunities and problem areas (threats) in the environment. Summarize strengths
and weaknesses of the company and its sustainable competitive advantage.
State what you think could be improved in their strategy or what changes should be considered
based on opportunities and threats in the environment and the company’s own strengths and
weaknesses. Try to come up with some innovative, creative, interesting, and attention getting
marketing strategies and tactics. Use your imagination. Are all components you analyzed
consistent with each other? Organize your suggestions under overall strategy, target market
segments, and 4 Ps and support your suggestions. If you do not think anything should be
changed, support this as well. Do not just say you like what they are doing, that would be an
incomplete answer to this section.
REFERENCES & EXHIBITS (10 POINTS)
Include a bibliographic listing of documents referenced (articles, web page, advertising, etc.) and
names of organizational representatives interviewed or consulted.
There is no limit on the number of exhibits, but each should illustrate a key audit element. Use
tables and figures to display data or small amounts of information in categories I strongly
suggest at least two exhibits: 1) a positioning map and 2) a SWOT analysis table.
WRITTEN REPORT SPECIFICATIONS
The report should be 7-10 pages, excluding cover page, table of contents, references, and
It should be double-spaced with standard margins (1” all the way around).
Use 12-pt font size (Times New Roman) and number your pages.
HFT‐3503 ‐ Marketing Audit Page 4
It should have the quality of a formal business document. Use headings and subheadings
to organize information.
Use tables to display categorized or numerical information (never split between pages)!
Check spelling, punctuation and grammar. Excessive mistakes will cause you to lose
On a cover page, put your names, company name, course number, and date.
All sources of information should be referenced. A typical paper will include 10-15
references. Any charts and figures you use should include a citation of where the
information was found. References must be in APA format and must include a title, date
and author even if they are from the internet. References simply listed as web addresses
(i.e. www.etc.) will receive no credit. Wikipedia is not an acceptable reference and
reliable sources must be used.
Submit through Blackboard in MS Word only. One submission per group if you are
working in a group and be sure to include all group members’ names and Panther ID
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