1.1 Research Focus
This study brings to fore the concept of “marketing audit”, and investigates the concept of an organizations analysis of its market, and examines the conceptual and empirical evidence for the construct of market audit. It provides a comparative analysis of the constructs of marketing audit with marketing fit and market orientation. The study was also constructed to illustrate the association of those constructs with the organizational business performance of larger Indian firms.
The growing complexity intricacy of the current business environment requires a more efficient examination and assessment procedure of the authoritative readiness to manage the element market. The current data assembling and transforming systems, for the most part, fail to offer a thorough and coordinated structure that fuses the whole showcasing capacity and additionally giving key proposals to activity. The promoting review, described as a precise, complete, goal, and free approach, can support the director to comprehend the working of the individual parts of the association and their commitment to the aggregate framework intended for the accomplishment of the hierarchical goals. An empirical study of the marketing audit can provide some insight into management’s perception of the benefits of the marketing audit as well as the current procedural aspects of the marketing audit, which highlight the strength and weaknesses of companies, thereby affecting the results.
The structural capability of an organization to seek purposefully environmental intelligence, and to use the insight gained form it, to redirect its internal processes to respond effectively to market dynamics, can potentially facilitate the long-term provision of superior value to the customer and the achievement of a sustainable competitive advantage in the market.
This thesis suggest the usage of a specifically planned and implemented marketing audit, designed to address the components of the model of market fit to facilitate an organizations efforts to achieve and maintain continued currency in relation to its target market. It is argued that the marketing audit procedures can be used as an integral part of the organization/market matching process and can assist with the establishment and maintenance of the optimum level of fit of an organization to its target market. The thesis also provides an agenda for future research.