FIXING THE MARKETING OBJECTIVES - Understand the thought process used to fix a marketing objective - Define the notion of a marketing objective 1 Laurence.

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Presentation transcript:

FIXING THE MARKETING OBJECTIVES - Understand the thought process used to fix a marketing objective - Define the notion of a marketing objective 1 Laurence Chérel - Catherine Madrid Tech De Co Bordeaux

Pre-requisites for fixing a marketing objective: 1- Understand the market (iutenligne resources nos. 1420, 1421,1422, 1533, 1539) 2 – Analyze performance 3 – Fix marketing objectives 2 Laurence Chérel - Catherine Madrid Tech De Co Bordeaux

1 – UNDERSTAND THE MARKET - Use qualitative and quantitative analyses  Reference markets (NCR, NCA, theoretical demand)  Competitive dynamics  Environmental analysis (trends and players) - Consider market segmentation  Wide-ranging customer needs  Search for specific hallmark attributes 3 Laurence Chérel - Catherine Madrid Tech De Co Bordeaux

2 – ANALYZE PERFORMANCE -Of the company: -Of the competitors: * Who are they? * What is their market share? * What is their reputation? * How long have they been in operation? * What is their positioning? * What are their means? * etc. 4 Laurence Chérel - Catherine Madrid Tech De Co Bordeaux

To define the marketing objectives, you must first: Understand the market (demand, trends, potential market, seasonal ratios,...) + Analyze performance (company and competitors) = ANALYZE THE SITUATION 5 Laurence Chérel - Catherine Madrid Tech De Co Bordeaux

3 – FIXING THE MARKETING OBJECTIVES -What market share? -How many customers to conquer? -What level of sales to aim for?  expressed in measurable terms (figures based mainly on the competition)  combined with a deadline (1 or 2 years)  evaluated in a realistic and stimulating way (arguments based on the company’s capacity and the competitive dynamics)  prioritized and coherent 6 Laurence Chérel - Catherine Madrid Tech De Co Bordeaux

A precise, costed objective, combined with a deadline Be precise, (x% market share in 2 years) Justify your proposals, (because my main competitor is Y, who has been on the market for a long time: he has a strong reputation and considerable means) Laurence Chérel - Catherine Madrid Tech De Co Bordeaux 7

Knowledge check quiz Laurence Chérel - Catherine Madrid Tech De Co Bordeaux 8

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