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how to do a marketing audit step number one define your objectives before you begin your audit you need to be clear about what you need to improve in order to meet your overall business and marketing objectives step number two evaluate the market number one estimate the size and expected growth of your market number two conduct an environmental analysis using pestle number three define the different market segments your business competes in and number four assess how your market segment is expected to change and estimate sales and percentage share for the next financial period step number three define your target audience and identify their needs number one identify and define the companys current customers number two conduct research to identify what current customers want and need such as create personas number three identifying to find your target buyers and end users also known as prospects number four conduct research to identify what current prospects want and need ie create pe