Setting Marketing Objectives

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Marketing Objectives may focus on....
-Sales Volume and Value, Market Size, Market and sales growth, Market share and Brand loyalty
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What is sales volume?
The number of units sold
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What is the sales value?
The total amount spent by consumers
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What is the formula for market size?
Number of units sold X Price
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What is the formula for market growth?
Change in size of market / original size X 100
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What is the formula for market share?
Business A sales / Market sales X 100
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What is brand loyalty?
Brand loyalty is when customers keep returning to buy a recognised brand
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What are the types of internal influences?
Finance, HR, Marketing, Operations
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What is an example of a Financial internal influence?
Marketing Budget, Cash flow. Return on investment (ROI)
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What is an example of a HR internal influence?
Will marketing lead to more customers?, Are staff trained to respond?, Keeping staff members up to date
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What is an example of an Operational internal influence?
Ability to meet demand, Implementation of marketing decisions, logistics of a new market
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What are the main types of External influences?
Technological change, Ethical and envrionmental influences, Actions of competitors, Market factors
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What is an example of how a Competitors actions could impact marketing objectives?
Marketing budget, Promotional activities, Pricing policies, Product development and Aggressive marketing
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What is an example of how Market factors could impact marketing objectives?
Degree and relative power of competitors, social factors, legislation and demographics
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What is an example of how technological change could impact marketing objectives?
E-commerce, Digital markeitng, Social media, Global markets and production capabilities
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What is an example of how ethical and environmental influences could impact marketing objectives?
Consumers' expectations and pressure groups
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Other cards in this set

Card 2

Front

What is sales volume?

Back

The number of units sold

Card 3

Front

What is the sales value?

Back

Preview of the front of card 3

Card 4

Front

What is the formula for market size?

Back

Preview of the front of card 4

Card 5

Front

What is the formula for market growth?

Back

Preview of the front of card 5
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