Marketing objectives

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What are marketing objectives?
Specific and focused aims set by the marketing department to achieve corporate objective
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1. Increase the size of the business
Increase market share and sales and/or target other market segments
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2. Changing market position
Involves changing perception of the company
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3. Innovation
Changing rapidly in a dynamic market
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4.Brand image/loyalty
Competing effectively in a market
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5. Survival and security
Often focused on in times of crisis e.g. recession
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Why does a business set objectives?
Bench marking, motivation to work harder, coordination and efficiency
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Internal influences on marketing objectives
Corporate objective, finance available, HRM & nature of products sold
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External influences on marketing objectives
PESTLE, competition and suppliers
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Other cards in this set

Card 2

Front

1. Increase the size of the business

Back

Increase market share and sales and/or target other market segments

Card 3

Front

2. Changing market position

Back

Preview of the front of card 3

Card 4

Front

3. Innovation

Back

Preview of the front of card 4

Card 5

Front

4.Brand image/loyalty

Back

Preview of the front of card 5
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