Understanding Marketing Objectives

HideShow resource information
Marketing objectives
medium - long term targets intended to provide a sense of direction for the marketing department
1 of 10
Business set marketing objective to improve the following
1) Increase brand recognition, 2) Increase market share, 3) Broaden product range, 4) break into a new market
2 of 10
Increase brand recognition -
Set for a b.s who is a new entrant in a market
3 of 10
Increase market share
help boost rev. and profits
4 of 10
Internal influences on marketing objectives:
1) corporate objectives, 2) Size & type of firm, 3) financial position of business, 4) If they have a USP
5 of 10
Corporate objectives
marketing objectives help a business to achieve corporate objectives
6 of 10
Size & type of firm
-Large firms possess high degree of market power (set expensive and aggressive market objectives)
7 of 10
Financial position of a business
Profit = engage in necessary development that will chalenge market objectives set
8 of 10
Possession of USP
USP = can increase b.s brand recognition / market share
9 of 10
external influences on marketing objectives:
1) market position, 2) competitors, 3) State of economy
10 of 10

Other cards in this set

Card 2

Front

Business set marketing objective to improve the following

Back

1) Increase brand recognition, 2) Increase market share, 3) Broaden product range, 4) break into a new market

Card 3

Front

Increase brand recognition -

Back

Preview of the front of card 3

Card 4

Front

Increase market share

Back

Preview of the front of card 4

Card 5

Front

Internal influences on marketing objectives:

Back

Preview of the front of card 5
View more cards

Comments

No comments have yet been made

Similar Business Studies resources:

See all Business Studies resources »See all Financial Planning resources »