What was the most important factor of success? the answer is depend on company marketing strength. The strength itself, coming from its strategy and powerful planning. Product with reasonable price will increase profit and sales portfolio report. Selling at a higher price or successfully developing new products and selling them with higher price could cause serious problems.
Evaluating the marketing strengths of the firm the following areas are examined:
• Marketing environment
Markets, customers, brand equity, competition levels, economic trends, money supply position in the market, legal issues, and social developments, causes and problems besetting the market.
• Marketing action
Products, pricing, distribution channels, advertising and promotion, and personal selling, publicity.
The real questions to be asked during audit are summarized below:
• Customers primary and secondary levels of satisfaction derived from the product; the idea of PRODUCT as sold by the firm and the customers viewpoint about what product he/she is purchasing.
• Environmental issues shaping the markets, competition and the customers.
• Firms special skills as compared to competition in marketing.
• Marketing problems and opportunities the firm is facing today and may have to face in the future.