Strategic Planning in the Small Business

Unit 2 HO 2-2

Figure 6.1

Management Audit

By:

Date:

Based upon my analysis of the business,

I believe that the operation is being run satisfactorily

in the area of:

Yes No

I. Sales and Marketing

A.Pricing

Are prices in line with current industry practice?

Is your pricing policy based on your cost structure?

Have you conducted price sensitivity studies?

B. Market research

Have you identified target markets?

Do you segment your markets?

Have you identified

customer wants/needs?

Do you know

how your markets perceive your products/services?

Has your

business taken advantage of market potential?

Has the competition been analyzed?

C. Personal selling

Are your sales practices satisfactory?

D. Customer service

Is customer service a priority?

Is there a rational balance between serving your customers' needs

and good business practice?

E. Advertising and public relations

Do you select media for measurable results?

Is your advertising consistent?

Does your advertising budget make sense in terms of the level of

business and its anticipated, planned growth?

F. Sales management

Are salespersons and outside agents properly directed in their

duties?

Do you establish individual sales goals?

Do you provide adequate sales support?

Are your salespersons trained?

G. Market planning

Do you have a marketing budget?

Do you have a market plan?

Has

your business taken advantage of market opportunities?

II. Business Operations

A. Purchasing

Are reputable, competitive vendors used?

Do you have a purchasing program?

continued on newt page

Bangs, Jr., D.H. The Market Planning Guide. Third Edition. Copyright @Upstart Publishing Company, Inc., 12 Portland

Street, Dover, NH 03820 USA. 154