Business Studies – Marketing Objectives, Strategy And Tactic

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Angela Emma Rudd BMA
15th October
Business Studies ­ Marketing Objectives, Strategy and
Tactics Notes
SMART Marketing Objectives
A marketing objective is a target set by the marketing function. It sets goals for
the firm to achieve in terms of marketing activities.
Marketing Strategy and Tactics
A strategy is the means of which to achieve an objective. A market strategy is
therefore a way of achieving a marketing objective. It is the longterm plan a firm
has to ensure they meet there marketing targets.
A market strategy involves:
Analysing markets
Choosing which markets to operate in
Which products to offer
The strategy is implemented through marketing tactics. These involve detailed
decisions about factors such as the price and the way the product is distributed.

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Angela Emma Rudd BMA
15th October
Types of Marketing Strategy
There are many types of marketing strategies. Including niche marketing and
mass marketing.
Niche Marketing
This occurs when a firm focuses on a specific segment of the market with which
the major competitors are not concerned.
There are a number of advantages of operating in a niche market:
The firm may be able to survive as its offering a product or service that
larger firms are not bothered about supplying.…read more

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Angela Emma Rudd BMA
15th October
What Determines a Marketing Strategy?
As we have seen a firms marketing strategy must be derived from its
marketing objectives.
The strategy must be linked to opportunities within the market.
A firm's plan must also be related to its own strengths and resources.
A firm's strategy will also be influenced by what competitors are doing.…read more


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