Last edited 16 Nov 2020

Main author

Philip Collard Other Consultant Website

Marketing audits in the construction industry

Contents

[edit] Introduction

The process of marketing planning begins with the marketing audit, a detailed assessment of :

All these issues help determine structure and culture, a full picture of where we are now that helps articulate where we could be at some future time. It is this that gives us our true direction.

[edit] The marketing audit

The marketing audit is the collection of data to be converted into useful information for further distillation in the final marketing plan, but there is as much need to formalise or systemise this process, as there is for the marketing plan itself. An outline framework of the type of areas a firm should be examining and the questions it should be asking, is presented below.

Factors to be examined in the external business environment:

Factors to be examined in the internal business environment:

Conducting a thorough marketing audit is a demanding task. The process above is described in list form only. The level of detail entered into on each point will depend on the auditor and the size of the business or importance of that particular market to the firm.

What is more important is how the information gathered is brought together in some kind of meaningful framework which can then be applied to the marketing plan. Two frameworks were mentioned in the audit methodology; STEEP analyses and the Porter five competitive forces any industry will face. These types of frameworks are extremely useful in processing information and putting it into some form of perspective. McDonald, in his book Marketing Plans, recommends drawing the entire constituent parts and multitude of information together through a Strengths, Weaknesses, Opportunities and Threats analysis or framework (SWOT). This is particularly convenient because it differentiates between external and internal factors. Thus key points from the internal business environment analysis can be recorded under strengths and weaknesses while external environment factors go under opportunities and threats.

Many companies use SWOTs for a variety of purposes. It is easy to record every single factor generated on the SWOT, but this will make the whole framework unwieldy and defeat the object of its purpose. Far more will be achieved by limiting the SWOT to key factors which have a direct bearing on competitive success in the following period. The objective should be to restrict each SWOT title to one side of text with each point summarized in bullet form.

It is only when there is a full understanding of the scope of activities, that it is possible to match activities to the environment and to possible capabilities. Any future strategy is likely to require a modification of resources but it still must be a reflection of attitudes and beliefs and these can only be distilled from a full audit.

The next stage in marketing planning is to set a long-term direction by creating a three-year plan.


This article was created by --Philip Collard 14:42, 11 December 2013 (UTC)

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