When a company hires a consulting firm to do a complete annual review and analysis of its marketing plans and financial performance, this process is a:
A) Marketing audit.
B) Performance analysis.
C) Performance index.
D) Full-cost approach.
E) Contribution-margin approach.

Question

Quizplus · Accepted Answer

A marketing audit is the process of evaluating a company's entire marketing process, including its financial performance. It's a comprehensive study of a firm's marketing strategies, tactics, and results. A consulting firm conducting a complete annual review and analysis of a company's marketing plans and financial performance constitutes a marketing audit.

When a Company Hires a Consulting Firm to Do a Complete