Marketing objectives
- Created by: Joel Boulter
- Created on: 18-11-15 17:38
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- Marketing objectives
- Market share
- Sales of one product/ total sales in market x 100
- Excellent measure of a companies success
- A companies market share can only increase if it is doing better than its rivals
- Easy to compare between companies in the market
- Brand loyalty
- Gain regular and repeat sales from customers
- Cheaper and easier than attracting new customers
- Spend less on promotions and advertising as you already have the customers
- Can charge higher prices
- Important marketing objective
- Brand name can be sold to another firm for high prices
- Sales growth
- Easy to measure
- (Sales that year - Sales last year) / sales last year x100
- Likely to be influenced by external factors e.g. recession
- Similar to sales value, volume objectives
- This may be changed to maintaining sales and preventing a decline in sales
- Sales value and volume
- Volume of sales x average price
- Success is an improvement on previous results
- Easy to measure and is useful for comparisons
- Sales value more useful than sales volume
- Market share
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