Marketing Objectives

Meeting marketing objectives should lead to sales. (If not, you need to set different marketing objectives.) They should:

Ø  be clear

Ø  be measurable, and

Ø  have a stated time frame for achievement.

Defined as: marketing ‘goals’ that the business must achieve in order to meet its wider business objectives

Main ones for most businesses tend to be:

Ø  Growth in market share

Ø  Clearer product differentiation

Ø  Long term brand value to customers

Ø  Creating and launching new products / services – ‘Innovation’

Objectives into marketing targets

Ø  Going from big picture into smaller pictures

Ø  Targets are ‘milestones’ on the road to achieving the objectives

Ø  Targets are usually short and medium term

Analysis of marketing objectives

Ø  To create an effective marketing strategy you need to have clear objectives – it will probably fail without them!

Ø  Objectives are different to strategy, so look up the definition of marketing strategy now so you are clear about this!