Discuss marketing audit in detail. Explain the importance.
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The old-world concepts of factor endowments and comparative advantage which focused on an area's unique inputs are outmoded for today's global economy.
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The Marketing Audit refers to the comprehensive, systematic, analysis, evaluation and the interpretation of the business marketing environment, both internal and external, its goals, objectives, strategies, principles to ascertain the areas of problem and opportunities and to recommend a plan of action to enhance the firm’s marketing performance.
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