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Essay / Research Paper Abstract
This 18 page paper is written in four parts. The first part looks at the use of a marketing audit, discussing what it is, why it is useful and how it may be of value to a bank such as HSBC. The second part of the paper considers why it is important that firms innovate and applies this to the banking industry,. The third part of the paper suggests a new marketing plan for HSBC and the last part of the paper looks at ethics in marketing, how two other firms; McDonalds and Walls Ice-cream can dealt with ethics and then considers the important of ethics in marketing banks. The bibliography cites 11 sources.
Page Count:
18 pages (~225 words per page)
File: TS14_TEHSBCmark.rtf
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Unformatted sample text from the term paper:
a marketing audit as "a comprehensive, systematic, independent, and periodic examination of a companys or business units marketing environment, objectives, strategies and activities with a view to determining problem areas
and opportunities and recommending a plan of action to improve the companys marketing performance". With this definition it is straightforward to understand how a marketing audit can potentially benefit the
bank, providing a framework on which the company, always business units, can be examined looking at a range of influencing factors that could impact on the business including the environment,
looking at the way the strategies and activities of the company undertakes its operations fits in to that environment and looking for areas of potential improvement, either by reducing problem
areas and improving performance, or identifying potential opportunities. The overall purpose of a marketing audit is the identification and evaluation of the marketing practices and resources that are within a
company and assessing the way in which they are utilized (Hooley et al., 2004). In marketing audit can help in a number of ways, it is a complete tool which
facilitates the way in which marketing efforts of an organization can be controlled. However, it also has a potential value in a way it can help an organization define its
marketing capabilities and understand the environment within which it is operating (Mintzberg et al., 2008; Hooley et al., 2004). When considering the way that the marketing audit should be applied
to the bank Kotler and Keller (2008) identify four major characteristics that should be present in a practical application. The first characteristic is that the marketing mortgage should be comprehensive.
This means that all of the major marketing activities of the bank should be examined, even though it may be tempting for an organization to focus only on the areas
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