marketing audit

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A review of an organization's marketing capabilities based on a structured appraisal of a marketing department's internal strengths and weaknesses, which helps the company decide how best to respond to external opportunities and threats. Sales are analysed, the effectiveness of the marketing mix is assessed, and, externally, the marketing environment is monitored. When the marketing audit has been completed, a marketing plan is drawn up based on its results.

Subjects: Marketing.

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