Running Head: MARKET AUDITING Market Auditing
Student’s Name
Institution 1 2 MARKET AUDITING Introduction
Market audit gives an independent and a new perspective which helps in giving the
review about the organization as far as the marketing activities are concerned. The activity of the
auditing will include things like advertising, performing marketing research, publicity, social
media promotion, and offering of free sample to enhance good performance of the business. In
auditing the market, there is the use of honesty and fair deals which has got better leverages in an
organization and also in performing the marketing advertisement. In market audit, there is the
need of using various resources both the physical human and financial which are considered as
very precious gifts in the market.
There is also the side of taking good care of the clients and understanding what is giving
them pressure so as to enhance effectiveness in the performance in the production sector. In most
cases, organizations will prefer to use eternal auditors who mostly help in giving an assurance of
the financial balances in the firm in questions. They also give advices to the mangers on matters
of profit and how to maintain the good performances in the firm.
In cases of losses, the auditors usually investigate what could be the cause, for instances,
frauds which is massaging of the money in the firm and steal it deliberately for selfish gain, also
issues like errors during calculations. Such causes are keenly investigated by the auditors in the
market and give the best tactics and policies to use to prevent the occurrences. The managers are
also equipped with the necessary knowledge and skills to help in managing the business. In our
case, we are investigating the results of market auditing on the banks of cancer research (BCR). 3 MARKET AUDITING International organizational review CUP foundation is an organization which deals with people who have unknown primary
cancer. The CUP main objective is to create awareness to the people and promote as well as
supporting the research. It is an international organization which undertakes and gives the
information concerning the spread of the chronic disease. The firm is located in the follies of
Bright Walton of the Newbury in the United States of America.
Bereavement organization is located in London and the aim is to create friendship
between the children and the parents in case of the death of their loved ones from cancer. There
is counseling given to help the children and mature adults to overcome the loss and continue
living a happy life. There is also availability of posts and areas to create awareness of the
protection offered from the organization concerning the cancer research.
The expert patients programmed is a self management organization which works with the
patients and care for them in the long term conditions. Programmers are given at various
intervals to help people in attending the professional and seek guidance in cases of depression.
The transition aims at helping the patients in coping with the cancer and getting treatment which
is done weekly. The teachings are done by tutors who live in the long term medical condition.
This organization is an international one which is located in the United Kingdom. Executive summary 4 MARKET AUDITING
In the banks of cancer research, the organization involves the use of getting money and
bringing them together to build a bank which can help to raise money to help people who are
suffering from the cancer. Such a bank need market auditing to help in calculation of the total
profit in the firm as well as helping the mangers to keep the money in order for the purpose of
helping the sick. In this case the money is accumulated form the rich individuals who sacrifices
to give out some money for the sake of the people infected with cancer.
There is a lot of money which has been accumulated to help the cancer people. For
instance, in 2013, the total profit made was $154,700,000,000 which main aim was to be kept in
the bank to help in the treatment of the cancer. The whole procedure would be conducted from
buying of the necessary equipment and the machines needed to help in treatment of the chronic
disease. There is also the idea of using the money to buy the chemotherapy drugs which are used
during the clinic visits to kill the cancerous cells in the human body.
In this case the money ought to be managed through proper auditing and calculations of
the expense used in a given financial year. The auditors will have the obligations to calculate the
expenses and the income received very month and how the costs were used. When the bank run
in such an order, there will be high chances of smooth flow of the business and management of
the cancer reared money will be easily retrieved. The issue of auditing has helped in dealing with
corruption and misuse of funds for selfish benefits.
The united state came up with an idea of creating the campaign and asking people to
support the project for the sake of the future generation. The money is also allocated by
following a certain procedure form the government to ensure that no party is made worse off
eventually. All the cancer people are usually taken care of and the corruption is eradicated. The 5 MARKET AUDITING
organization helps to achieve maximum effectiveness in the deployment and also benefiting from
ideas from the auditors who are able to give the required cancelling and professional guidance.
The wisdom of how to allocate the money and time is also exchange through the networking
where the mangers are able to learn various skills and how to manage their timetables. In such
case, the bank of the cancer reset is made efficient and effective by following such procedures.
There are also the ideas of using most crucial materials in enhancing under stability and
demonstration of how to use machines, equipment and other laboratory techniques for the
purpose of helping the victims of the cancer (Nicholas, 2014). In such incidences, the use of
marketing is crucial as it helps in classification and analyzing all the data needed to help in
making the profit and financial statements. The auditors are also able to investigate the
correctness of the use of formularies and the procedures used during the balancing of the end of
the financial period’s accounts. The treatment of cancer requires the use of expensive machines
and the drugs are also expensive thus requiring more attention and money.
Channel of communication
The use of good communication skills to help in conveying information to the patients
and the BCR is important in ensuring that the firm runs in the correct way. The communication
plan of BCR in the project would require the employers and the employees to agree on the best
channels to use. For example choosing to use telephone calls or messaging when the clients is fur
away from the working place (Yoder, 2015). The managers should relay information required to
the workers to avoid misinformation causing financial risks. The business owners are supposed
to accumulate all the resources and count the stocks and overstocks to ensure that they convey
the exact amount to the accountants and financial balances in the bank. The communication 6 MARKET AUDITING
patter should be maintained and consistency in forming channels should be enhanced. The bank
project can only be effective and efficient when the communication is maintained in the business.
Lack of communication lead to misunderstanding and cases of errors and frauds are likely to
occur which increases the bank of cancer research.
Situation analysis
Every profit making and non-profit making business or organization ought to have a well
prepared marketing auditor to help in monitoring performance of the enterprise. The marketing
budget plan should have the required details which help in maintenance of the organization .The
considered factors are usually matters on finances, marketing and the profit the business is
making through preparation of the financial accounting statements.
The factors are considered to ensure the business resources are utilized to the fullest and
also to make sure there is no wastage in the sector. Every enterprise goals is to maximize the
profit and reduce the costs by ensuring the consumer’s wants are met to the fullest. In this paper
there is a preparation of a medical marketing plan enterprise considering the mobile operation to
meet the banks cancer research from the parents and analyzing the financial costs.
BCR would help in calculation of risks such as frauds, errors and coming up with
strategies to avoid such situation in the firm. The entrepreneurs are able to have skills of how to
manage the business and use of the regulations imposed to make more convenient judgment
about the use of the stocks and the accumulated money on BCR management. The market Dynamics 7 MARKET AUDITING
Bank Cancer Research is one company among others which has maintained a good
reputation and brand image concerning the strategic management and development on surgeons.
The company has indeed helped many people including young kids and adult’s cancer related
matters. There has also been a good leadership in the company which is known for consistently
providing quality products and medical fixation for decades (Ayers).
The industry has helped in coming up with various strategies which are easily
implemented in the bank company due to its ability to have more advanced machines and skilled
surgeons who are competent in performance. The characteristics have earned the company a
good image to various patients and many clients are attracted to the firm. The company has
played a role in implementation various hardware which has brought innovation in various
department. There is also the use of metal which help the firm to have strong competitive
advantage over other firm which are the same.
The company has thus given the patients the confidence in getting treatment from the
medical centre’s as they are aware there issues will be fixed. BCR management faces a challenge
on the production of the restorable hardware used in the fractured bones of the patients and
cancer illness. The bank has highly invested on high standard production and chains needed for
promotion in the business. The company has got various strongholds which are used in surgery
and treatment of bones in the medical centers.
Also various facilities helps in ensuring that the firm performs better and the clients are
given the best treatment. There are various dynamics during the performance and leadership as
the company faces challenges which are overcome by the strengths in the financial institution.
SWOT Analysis
Strengths 8 MARKET AUDITING
a) The company has reputation for quality
b) It also has a close relationship with surgeon
c) They have the best facilities and top rated scientist
Weaknesses
a) The fact that they have high-quality reputation also limit their room for growth
b) The target market is mostly children, which mean with the introduction of new product,
there could be many lawsuits.
c) Patients expect high-quality treatment since the company has the top rated facilities; thus
they cannot risk releasing a product with a high rate of failure.
Opportunities
a) The accumulate funds can have great demands amongst many surgeons
a) If they are the first to release the product, they have a chance to dominate the market,
concurrently releasing a reliable product.
Threats
a) There are chances that they can lose a huge market share to competing banks.
b) The company may even lose top accounts
c) Also, their long-dated reputation may be lost
The company has got various strengths and weaknesses which lead to the challenges
facing the banks of cancer research in the whole analysis. The use of money to maintain the
business is also an extra cost which makes the company not to stand completely (Kardo, 2012).
There is the need of having wealthy people to give out their capital and other materials to
maintain the banks. Also the construction of the bank with the purpose of helping the cancer
people is also another situation that requires the need of more capital. The weaknesses such as
low reputation since they need more support for higher growth can be elevated through creating
more awareness. The accounts should also be maintained to help in proper management and
ensure that the money is used for the correct purpose. BCR has played a role in implementation
various machines which has brought innovation in various departments. There is also the use of 9 MARKET AUDITING
metal which help the firm to have strong competitive advantage over other firm which are the
same. Market forces
There are various spectators and opposes concerning the issue although in both cases
risks are involved. The advantages of implementing the restorable hardware have the effect of
having higher market shares in the firm and also the specification of various products needed in
treatment (Nelson, 2014). The BCR will also have the chance to maintain the competitor in the
market and also have the ability to produce new products and still maintain the old hardware
market. Other banks also compete with the company to achieve higher level of client attraction
which increases the morale of improving quality of the services given to the patients.
Selection of the old astounding doctors, medical caretakers and other human services
experts, and support profoundly specific programs although sending out medicinal instruction
programs all through district by means of telemedicine, keep up the scholarly organization has
also maintained the market forces in the firm. BCR is also positioned in a strategic position
making it more accessible to more patients thus having larger market share in the industry and a
lot of donations from wealth people. The firm also promotes their services too many people and
creates awareness which helps in enlarging the company and making huge profits.
Marketing Theory implications
The theory of the new entrance by Hanford argues that in inhibit the surgery and the bone
treatment whereby the question directed shows that various expert don’t portray the necessary
skills. Bargaining the power of the patients for the increase the number of clients who will attend 10 MARKET AUDITING
the surgery and the use of the probable hardware .The suppliers of the and refine nursing and
united instruction tracks that bring staff to your healing facility name for preparing and move
staff to other your doctor's facility framework offices.
The industry has helped in coming up with various strategies which are easily
implemented in the BCR due to its ability to have more advanced machines and skilled doctors
on chemotherapy who are competent in performance and attract more patients (Kathleen, 2012).
A particular framework is trying to employ CFO with experience; shortcoming will be essential
concentrate on blood utilize decrease could act naturally constraining once objective is
accomplished; requirement for more prominent customer advance; and to construct a program
that will serve as a referral source, in this manner keeping doctors drew in and spurred to achieve
all the project objectives.
Conclusion
In conclusion, market audit gives an independent and a new perspective which helps in
giving the review about the organization as far as the marketing activities are concerned. The
activity of the auditing will include things like advertising, performing marketing research,
publicity, social media promotion, and offering of free sample to enhance good performance of
the business. In the banks of cancer research, the organization involves the use of getting money
and bringing them together to build a bank which can help to raise money to help people who are
suffering from the cancer.
Such a bank need market auditing to help in calculation of the total profit in the firm as
well as helping the mangers to keep the money in order for the purpose of helping the sick .The
auditors will have the obligations to calculate the expenses and the income received very month
and how the costs were used (Skeat,2015). When the bank run in such an order, there will be 11 MARKET AUDITING
high chances of smooth flow of the business and management of the cancer reared money will be
easily retrieved.
Therefore, in auditing the market, there is the use of honesty and fair deals which has got
better leverages in an organization and also in performing the marketing advertisement. In
market audit, there is the need of using various resources both the physical human and financial
which are considered as very precious gifts in the market. Reference
Abuje, R. (2014). The role of banks cancer research. London: 9034ut.
Ayers, S. (2016). The role of eternal auditors. India: yesdchpublishers. 12 MARKET AUDITING
Ayers, S. (2014). The role of tremendous data in business. India: arenads3773.
JAMES, K. (2013). the effects of cancer awareness. Australia: workingpress.
Kardo, K. (2012). Cancer research project. India: keni4093.
Kathleen, M. (2012). various organistional review. TZ: kushoke printing.
Maieni, H. (2016). The role of cancer protection. Iraq: 7852.
Moore, J. (2017). Effects of inetrnational organisation. Chicago: workscancer.
Neison, S. (2014). The role of market auditing in the Bank of Cancer Research. Iraq: YUweni workesr
publishers.
Nicholas, M. (2014). The role of organisational theories. Chicago: unsef 579.
Samuelson, K. (2016). Deployment in the bsuiness. Tanzania: tumesha publishers.
Skeat, M. (2015). Effects of data formulation. China: 23o831ytg. http://www.cancerresearchuk.org/about-cancer/coping-with-cancer/general-books-andlinks/general-cancer-organisations
http://www.cancerresearchuk.org

 

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