Which of the following is True regarding a marketing audit?
A) It focuses primarily on a firm's macromarketing environment.
B) It identifies the most-needed improvements and incorporates them into a corrective-action plan with short- and long-run steps.
C) It is less effective at locating the real source of a problem than a functional audit.
D) It analyzes only those marketing activities that have failed to produce adequate results.
E) It relies solely on company managers for data and opinions.

Question

Quizplus · Accepted Answer

A marketing audit is a comprehensive, systematic, independent, and periodic examination of a company's marketing environment, objectives, strategies, and activities with a view to identifying potential problem areas and opportunities and recommending a plan of action to improve marketing performance. It focuses on both internal and external factors that affect marketing performance. It identifies areas that need improvement and incorporates them into a corrective-action plan with short- and long-run steps. It also evaluates the effectiveness of current marketing activities and provides recommendations for improvement. Therefore, option B is the only true statement regarding a marketing audit.

Which of the Following Is True Regarding a Marketing Audit