Question: Write 20 page paper
Marketing Audit Guide
The final project for Principles of Marketing is the complete audit of an existing firm. This project is designed to give the student an opportunity to demonstrate an understanding of course learning objectives to include:
1. Understand what a customer-driven or market-driven organization is and how everyone in the organization needs to work together to satisfy customer needs.
2. Have a good grasp of the process of formulating marketing strategy (from understanding customer needs to the successful marketing of the product.)
3. Understand how product, price, promotion and distribution strategies interact to make a successful marketing strategy.
4. Know how to critically evaluate marketing activity in terms of how well it accomplishes its objectives.
Students will choose a firm by the first exam date and notify the course instructor to assure the firm is appropriate and to limit overlap from other enrolled students. Firms can be large, publicly traded firms, new startup firms or small local businesses. The only criteria is that the firm must have been operating for a year and is actively generating revenue.
Students are encouraged to begin considering the audit early in the semester as it will be graded as a semester long project and the deliverable should demonstrate significant effort. It is expected that a minimum of 40 hours will be spent on this audit.
Students can submit hard copies of drafts for feedback until the date of the third exam, after that date students must work independently, it is graded as a final exam and as such independent effort is expected to demonstrate learning.
Access to information on larger firms can be found using electronic sources, particularly publicly traded firms. Personal interviews will add credibility and depth to all audits and are encouraged where possible. Smaller firms will require in person interviews and observation. Please be respectful of small firm's leadership, be prepared when you arrive and don't ask for too much time. Small firms are extremely busy attempting to manage all that the business demands - your audit should ultimately be a value add to the entrepreneur - not a burden.