Marketing Audit Research Paper Example | Topics and Well Written Essays - 2000 words

selling Audit - Research Paper ExampleNewness in the overlap signifies minor modification of the existing harvest-festival that is saucily to the world and lav also create new market for the organization. Higher the degree of newness, higher is the chances of failure or success. On one hand the newness squirt bring success for the organization by increasing the sales and profit, whereas on the other hand, it may hand to high cost and failure that can create problems for the business (Cravens and Piercy, 2010). This study focuses on conducting a marketing audit for a customised car that can dole out many intends at the same time. This car serves the purpose of multifunction and customization that offers the owner with the opportunity of using and transforming the car in a renewal of new designs. It can serve the function of both city car and pick up. Toyota has shown interest in launching this car and in this regards the marketing audit has been conducted. About Toyota Toyo ta repulse Corporation is one of the worlds most affirmatory and leading manufacturers of automobile. It is the market leader in developing technologically advanced and environmental friendly cars. Toyota Motor Company was officially launched and started up by Kiichiro Toyoda in the yr 1937 (Borowski, 2010). In the class 1952 the company undergo exponential growth and become successful. After this success the company began to export cars to South America and quint years after this achievement, the company gained firm ground in the automobile market of North America. unveiling the market of US proved to be a breakthrough for Toyota in terms of automobile export. In the year 1982, Toyota Motor Corporation (TMC) was formed by collaborating Toyota Motor Sales Company with Toyota Motor Company. currently the company has nearly 522 subsidiaries all over the worlds with about 320,808 staff and having their manufacturing unit not only in Japan but also in 51 other locations spread o ver 26 countries (Borowski, 2010). In the year 2007 Toyota Motor Corporation has the highest share price value among all the car manufacturers. In the year 2008 the company recorded total sales of 8.972 million cars generating an annual turnover of $239.4 billion. In the same year the organization was recognised as the biggest manufacturer in the automobile industry (Borowski, 2010). Marketing Audit Marketing audit is described as the process of comprehensive, systematic, independent and periodic examination of a companys or business units marketing environment, objectives, strategies and activities with a view of determining problem areas and opportunities and recommending a plan of action to improve the companys marketing performance (Avasarikar and Chordiya, 2007, p. 4.15). The profitability of the organization can be increased by conducting marketing audit before launching a new product in the existing or new market (Kotler and Keller, 2012). In this regards the strength, weakne ss, opportunities and threat of the product and the organization has been identified. efficiency The major strength of the product is customisation. The owner of the car can use this in a variety of ways serving numerous purposes. The owner can use it as a pick up van and as a common city car at the same time. The car has got forward-looking features that can attract the customers. It is