Marketing Audit Approach
Essay Preview: Marketing Audit Approach
Report this essay
Schering-Plough Corporation is a global pharmaceutical company which manufactures and markets prescription, consumer and animal health products worldwide. The company operates in the US, Europe, Canada, Latin America and Asia. Schering Ploughs net sales in 2005 were $9.5 billion, an increase of $1.2 billion, or 15%, over the 2004 period. In 2005, six of the companys top 10 products achieved double-digit sales growth. Schering achieved huge success during 2005, with other products targeted to primary care physicians.
A marketing audit of Schering Plough will be conducted to analyze the marketing strategy of the company. The marketing audit will provide information on the external environment, internal structure of the company, assess the companys marketing program, performance, how the companys business objectives translated into successful marketing plans and provide recommendations for future consideration. The following parts of the marketing audit will be discussed.
Executive Summary
The purpose of this report is to conduct a marketing audit of the Schering Plough. The executive summary will provide a summary of the marketing audit which will consists of the conclusion and recommendations, if applicable. Data analysis will be performed in other sections of the audit and will be summarized in the executive summary section. The executive summary will performed upon completion of the marketing audit report. Challenges that may occur in completing the executive summary portion of the marketing will be summarizing pertinent information and that no conflicts exist between the summary and the audit.
Table of Contents
The Table of Contents section will contain a list of the chapters of the marketing audit report. Data will not be analyzed in this section. The Table of Contents will be prepared at the end of the audit report after the Executive Summary is written. No challenges are expected in preparing this section of the report.
Environmental Aspects
Information that will be discussed and analyzed in the environmental aspects portion is markets, customers, and competition. The marketing system including the complete marketing program, the marketing mix, the corporate objectives, and the linkages with the marketing system will be analyzed. Market analysis will involve reviewing information such as SWOT analysis, the companys annual report, research documents and articles. The types of analysis that will be performed will be reviewing the company and their products strengths, weaknesses, opportunities and threats. An analysis will also be conducted on the current state of the pharmaceutical market, segments which have the greatest growth potential and where are the greatest opportunities for future profits. In addition, analysis of customers view of the organization, customer wants and needs, competitors of the company and products, and sales and market trends will also be reviewed. The environmental aspects portion of the marketing audit report