A Marketing Audit Is Necessary Because

question 41

Multiple Choice

A marketing audit is necessary because:

• A) it is a standard practice adopted by all companies worldwide.
• B) managers may pursue certain strategies blindly, when other strategies might be more effective.
• C) regulators require marketing audits at the same time as accounting audits.
• D) all of the above.

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Definitions:

Market Niches

Specialized segments of the market catered to by businesses providing unique or narrowly focused products or services.

Vendor Checklist

A detailed list of criteria and requirements used to evaluate and select third-party vendors or suppliers.

Outsourcing Problems

Challenges encountered when tasks or services are contracted out to external suppliers, including quality control, communication barriers, and loss of managerial control.

Vendor Incompetence

The inability of a supplier or service provider to meet contractual obligations or expected performance standards.