A systematic examination and review of the current position of a firm in terms of its strengths and weaknesses?

• A. Marketing plan
• B. Marketing audit
• C. Packaging
• D. Market research

Answer: (B)

A marketing audit is a formal, systematic review of how a firm is performing in its marketing, looking at both internal capabilities and the external environment to identify strengths and weaknesses. This process examines objectives, strategies, and day-to-day activities across the marketing function to determine what is working well and where improvements are needed. It is designed to provide a clear picture of the current position so decisions can be made to strengthen performance. The other options don’t fit because a marketing plan is about future actions, packaging is just a product feature, and market research gathers data about markets and customers rather than an overall assessment of the firm’s own marketing position.