Mission-Objectives Matrix (MOM) as an Innovative Tool of Marketing Audit

Abstract

The marketing audit is a comprehensive study and a deep analysis of marketing activities of the company, involving almost all external and internal processes which influence an entity. The marketing audit is an important point in planning. “A marketing audit is a comprehensive, systematic, independent, and periodic examination of a company’s, or a business unit’s marketing environment, objectives, strategies, and activities with a view of determining problem areas and opportunities and recommending an action plan to improve the company’s marketing performance” (Kotler, Gregor, & Rogers, 1977, p. 29). Appropriate strategy refers to the division of organization into Strategic Business Units - SBUs, which help to analyze accomplishment of the objectives of the company. In literature company’s business portfolio is analyzed by several methods: BCG Matrix, GE Matrix, but to audit interconnections between mission and objectives, it is important to have some universal approaches like above mentioned famous matrices. As it is well known, mission is the main component of the company and this is the reason why during marketing audit mission statement should be also checked. The main objective of this article is to find an answer to the question how it should be done better. The novelty of this article is that it is possible to suggest a new and innovative Mission-Objectives Matrix (MOM) for the mission statement audit.