A review of a firm's current marketing mix, in terms of its strengths, weaknesses, opportunities, and threats.

• A. SWOT analysis
• B. Marketing audit
• C. Marketing mix evaluation
• D. Market segmentation

Answer: (B)

A marketing audit is a systematic, independent assessment of a firm’s marketing environment, objectives, strategies, and performance, including how the current marketing mix is working. It looks at how well the mix of product, price, place, and promotion aligns with the market and with the firm’s goals, and it identifies where the firm has strengths and weaknesses, as well as external opportunities and threats. The SWOT lens is often used within the audit to surface these factors, but the audit goes beyond just listing them by evaluating actions, results, and control systems and by recommending concrete improvements. So this description fits a marketing audit best, because it covers a comprehensive review of the marketing function and its mix, not merely listing factors or focusing on market segmentation.