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Marketing Objectives Defined as: marketing goals that the business must achieve in order to meet its wider business objectives.

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Presentation on theme: "Marketing Objectives Defined as: marketing goals that the business must achieve in order to meet its wider business objectives."— Presentation transcript:

1 Marketing Objectives Defined as: marketing goals that the business must achieve in order to meet its wider business objectives

2 Marketing Objectives Main ones for most businesses tend to be: 1.Growth in market share 2.Clearer product differentiation 3.Long term brand value to customers 4.Creating and launching new products / services – Innovation

3 Objectives into marketing targets Going from big picture into smaller pictures Targets are milestones on the road to achieving the objectives Targets are usually short and medium term

4 Objectives and small firms Small businesses dont usually think about, or even write down targets and objectives A criticism of the business manager/owner in a small business Increase sales by 10% for example

5 Limitations on objectives There are always barriers to achieving objectives Some internal – e.g. available resources Some external – e.g. changing market with competitor actions These may prevent all or some of the objectives being achieved

6 Marketing model Business objectives 1. Marketing objectives 2. Gather data 3. Form hypothesis 4. Test the options 5. Control And review Taken from :Marcouse et al, Business Studies, ed 2, 2003

7 Analysis of marketing objectives To create an effective marketing strategy you need to have clear objectives – it will probably fail without them! Objectives are different to strategy, so look up the definition of marketing strategy now so you are clear about this!

8 Evaluation of marketing objectives The success of using objectives within a marketing strategy is to be realistic about setting the objectives Its unlikely a new sports shop in your nearest shopping centre will win a large market share from well established stores like JJB Sports is it?


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