Marketing Environment Audit Essay
1.0 Audit of the Marketing Environment and its importance:
1.1 Marketing Environment Audit - Definition:
Marketing environment audit is a methodical and orderly assessment of the objectives, strategies and activities of the marketing environment of a business with a view to recognize key strategic issues, problem areas and opportunities. It is the basis upon which a plan of action to improve marketing performance can be built. Before undertaking a business project marketing audit shall be conducted to evaluate and plan how will the company perform in terms of market share, profitability and customer perception, what strategies shall be adopted to achieve the goals.
1.2 Types and Role of Marketing Environment Audit:
By analysing internal and
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Steel being a major raw material for this commerce is continually rising in price due to high demand and accessibility. But when we talk about inputs like seat cover, plastic etc. which can easily toggle and cost is nil of switching. So in this case bargaining control of provider will low down. For other players the bargaining influence of suppliers is sensible. Many auxiliary industries are opening up close to automobile producers realizing that there are lot of opportunities in automobile industry; hence there are lot of suppliers in this …show more content…
For the produced which are adding values to the product the switching cost of company will have low bargaining power because it will directly affect the customers .Company have to keep good relation with supplier to take pleasure in the benefit of discounted price. In that situation buyer will have soaring bargaining power.
When automobile company can go for backward integration in that case buyer have the high bargaining power. When buyer power is strong, the buyer is the one who sets the price in the market. Due to prevalence of alternative options the impact of customers on the product is high. Price sensitive customers were some of the factors that determine the extent of influence of the buyers in this industry.
Result: Medium Bargaining power of buyers = Moderate Industry
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