The Marketing Plan

KEY TAKEAWAY

The key to a successful ongoing marketing strategy is twofold: understanding causality and good marketing plan execution. Drawing the wrong conclusions about causality, or what actually causes a change in a company's sales performance, can lead to disastrous results. That's why companies investigate the causes by gathering market feedback and conducting market research. Another tool that can be used to research a change in a company's sales performance is a marketing audit. A marketing audit is an examination or a snapshot of the state of a company's marketing strategies as they are actually implemented. Complete and partial audits can be done internally or by a consulting firm in order to find areas for improvement.