Marketing objectives

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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

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